Newmont to sell mines as Newcrest bid closes

Palmer says the combined company can start a process to sell mines and decide which exploration projects to prioritise over the next two years. — Bloomberg

Denver: Newmont Corp, the world’s top gold producer, will forge ahead on a plan to find US$2bil in cash including through mine sales and project divestments after closing the largest takeover in the mining industry this year.

Denver-based Newmont closed its roughly US$15bil acquisition of Newcrest Mining Ltd on Monday, ending a nearly year-long effort to buy the Australian gold miner.