Parties
Company
Newmont Corporation
Company
Dhilmar Ltd
On November 25, 2024, Newmont Corporation announced the sale of its Éléonore gold mine in Northern Quebec, Canada, to Dhilmar Ltd for $795 million USD (approximately $1.08 billion CAD). The transaction was part of Newmont’s strategy to streamline its portfolio and exceeded its $2 billion divestiture target, with total proceeds projected at $3.6 billion USD. The deal, expected to close in Q1 2025, will support debt reduction and shareholder returns.
Dhilmar, a UK-based private mining company led by Alexander Ramlie, has a proven track record in sustainable mining. BMO Capital Markets acted as financial adviser, while Goodmans LLP and Lavery provided legal counsel to Newmont. Paul, Weiss advised Dhilmar Ltd.
Deal Type
Merger & AcquisitionIndustry
MiningTransaction
$ 1,080,000,000Deal Status
ActiveClosing Date