Newmont Corporation (NYSE: NEM)(TSX: NGT)(ASX: NEM)(PNGX: NEM) announced today that it has agreed to sell its Cripple Creek & Victor operation in Colorado, USA, to SSR Mining Inc. for up to $275 million in cash consideration. Upon closing the announced transactions, Newmont will have delivered up to $3.9 billion in gross proceeds from non-core asset divestitures and investment sales. ¹ The transaction is expected to close in the first quarter of 2025, subject to certain conditions being satisfied. ²

Under the terms of the agreement, Newmont expects to receive gross proceeds of up to $275 million, which includes:

• Cash consideration of $100 million, due upon closing
• Deferred contingent cash consideration of $87.5 million upon receipt of pending regulatory approvals ³
• Deferred contingent cash consideration of $87.5 million upon resolution of regulatory applications relating to the Carlton Tunnel⁴

Upon completion of an updated regulator-approved closure plan and in the event aggregate closure costs at CC&V exceed $500 million, Newmont will be responsible for funding 90% of the incremental closure costs in such updated closure plan, either on an as-incurred basis or pursuant to a net present value lump sum payment option.

“We are excited to announce the continuation of our divestment program to streamline the Newmont portfolio as the leading operator of Tier 1 gold and copper assets,” said Tom Palmer, Newmont’s President and Chief Executive Officer . “We are confident that SSR has the capability to deliver the next phase of life for CC&V, the employees who work there, and local stakeholders.”

Divestiture Program Progress

In February 2024, Newmont announced the intent to divest its non-core assets, including six operations and two projects from its Australian, Ghanaian, and North American business units. The sale of Telfer operation and Newmont’s 70% interest in the Havieron project closed on December 4, 2024. With definitive agreements in place to divest four other operations, the Company is focused on completing the divesture program for its non-core assets, which are expected to conclude in the first quarter of 2025. ⁵

Total gross proceeds from transactions announced in 2024 to date are expected to be up to $3.9 billion. This includes $3.4 billion from non-core divestitures and $527 million from the sale of other investments, detailed as follows:

• Up to $475 million from the sale of the Telfer operation and Newmont’s 70% interest in the Havieron project;
• Up to $1.0 billion from the sale of the Akyem operation;
• Up to $850 million from the sale of the Musselwhite operation;
• $795 million from the sale of the Éléonore operation;
• Up to $275 million for the sale of the CC&V operation; and
• $527 million from the completed sale of other investments, including the sale of the Lundin Gold stream credit facility and offtake agreement, and the monetization of Newmont’s Batu Hijau contingent payments.

Advisers and Counsel

In connection with the CC&V transaction, BMO Capital Markets acted as financial adviser and Davis Graham & Stubbs LLP acted as legal adviser.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the Company has been publicly traded since 1925.

At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont’s sustainability strategy and initiatives, go to www.newmont.com.