Newmont climbs to No. 4 miner after $850M asset sales

Staff Writer | April 16, 2025 | 9:37 am News 
Mine trucks at Newmont’s Porcupine mines. (Image courtesy of Newmont Goldcorp | Flickr).

Newmont (NYSE: NEM, TSX: NGT) became the fourth most valuable mining company in the world on Wednesday after completing its non-core divestiture program with the finalized sales of its Akyem operation in Ghana and Porcupine operation in Canada.

The two transactions are expected to generate approximately $850 million in after-tax cash proceeds, before closing adjustments.

The company’s shares are up 52% year-to-date, including a 3.1% gain in midday trading Wednesday on the New York Stock Exchange, bringing Newmont’s market capitalization to $63.41 billion.

The miner’s share performance stands in stark contrast to its peers—BHP, Rio Tinto, and Southern Copper—all of which have seen negative returns so far this year.

Top MinersCountryMarket CapShare YTD
BHP Group🇦🇺$116.09B-8.80%
Rio Tinto Group🇬🇧
$98.45B		-7.84%
Southern Copper 🇺🇸$69.63B
-3.33%
Newmont🇺🇸
$63.41B		51.79%
Zijin Mining Group🇨🇳$63.03B17.33%

Newmont launched its divestiture program in February 2024, aiming to generate up to $4.3 billion in total gross proceeds, including $3.8 billion from non-core asset sales and $527 million from the sale of other investments.

“This is a significant milestone for Newmont, as we have now divested all six of our non-core operations from the program announced in early 2024,”

Tom Palmer, Newmont’s CEO

As part of the asset sales, Discovery Silver (TSE: DSV) acquired the Porcupine operation in January. The complex produced 260,000 ounces of gold in 2023.

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