LONDON, UK / ACCESSWIRE / July 30, 2018 / If you want access to our free research report on Newmont Mining Corp. (NYSE: NEM) ("Newmont"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NEM as the Company's latest news hit the wire. On July 26, 2018, the Company announced that it will acquire a 50% interest in the Galore Creek Partnership (GCP) from NOVAGOLD Resources Inc. ("NOVAGOLD"), for approximately $275 million. The Company will also form a partnership with Teck Resources Ltd ("Teck"), who owns the remaining stake. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Newmont Mining most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Galore Creek, which is located in British Columbia, is one of the largest undeveloped copper-gold projects with resources previously reported by Teck of eight million ounces of gold and nine billion pounds of copper.

Deal Details

  • As per the terms of the deal, Newmont will make an initial payment of $100 million; a payment of $75 million on the earlier of pre-feasibility study completion, or three years from closing; and a payment of $25 million on the earlier of completing a feasibility study, or five years from closing. A final $75 million payment would be made upon the approval of Project construction.
  • Newmont and Teck expect the pre-feasibility studies to be completed over three to four years, with an annual budget of $10 million to $15 million (50% basis).
  • GCP will be governed by a Management Committee comprised of leaders from Newmont and Teck, and managed by a GCP study director and team, supported by Newmont and Teck subject matter experts.
  • As part of the transaction, Newmont will also acquire NOVAGOLD's 40% stake in the Copper Canyon project next to Galore Creek. Teck owns the other 60% of the project. The sale will be accomplished by the transfer of 100% of the shares of a new company to be formed by the amalgamation of NovaGold Canada Inc. and Copper Canyon Resources Ltd, two wholly-owned subsidiaries of the Company, to a subsidiary of Newmont.
  • NOVAGOLD will use the proceeds from the sale of its interest in GCP to further strengthen its balance sheet to fund activities at its flagship Donlin Gold project in Alaska.

Galore Creek Holds the Potential to Support Decades of Profitable Copper and Gold Production in a Favorable Mining Jurisdiction

Commenting on the announcement, Gary Goldberg, President and Chief Executive Officer (CEO) of Newmont, stated that Galore Creek holds the potential to support decades of profitable copper and gold production in a favorable mining jurisdiction, in-line with the Company's strategy to create long-term value for its stakeholders. Goldberg added that partnering with Teck allows Newmont to bring considerable technical, financial, and sustainability strengths to both organizations to bear in evaluating and refining development plans for Galore Creek, and to build on the strong relationships Teck has established with the Tahltan First Nation and British Columbia.

About NOVAGOLD Resources Inc.

Established in 1984 and headquartered in Vancouver, Canada, NOVAGOLD is a well-financed precious metals Company focused on the permitting and development of its 50%-owned Donlin Gold project in Alaska, which is one of the safest mining jurisdictions in the world.

About Newmont Mining Corp.

Founded in 1921, Newmont is one of the world's leading gold producers, and an industry leader in safety and sustainability. Headquartered in Colorado, Newmont has operations in the United States, Australia, Peru, Suriname, and Ghana. The Company is an industry leader in value creation, supported by its leading technical, environmental, social, and safety performance.

Stock Performance Snapshot

July 27, 2018 - At Friday's closing bell, Newmont Mining's stock fell 2.43%, ending the trading session at $36.89.

Volume traded for the day: 4.66 million shares, which was above the 3-month average volume of 4.15 million shares.

Stock performance in the past twelve-month period ? up 1.23%

After last Friday's close, Newmont Mining's market cap was at $19.99 billion.

Price to Earnings (P/E) ratio was at 26.58.

The stock has a dividend yield of 1.52%.

The stock is part of the Basic Materials sector, categorized under the Gold industry.

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