DENVER—Newmont Mining Corp. said Thursday it has completed the sale of royalty assets and other noncore investments to a Canadian mining company for about $1.3 billion.
Denver-based Newmont, one of the world’s largest gold companies, said it expects a pretax gain from discontinued operations of approximately $900 million in the fourth quarter in connection with the sale, based on current exchange rates.
Newmont had said last month it expected the pretax gain to be nearly $1 billion.
Newmont first announced the sale in November. It is part of the company’s initiative to monetize parts of its royalty and equity portfolio to fund development of its core business.
The buyer, Franco-Nevada Corp., is a royalty company that invests in mine operations globally.
Newmont President and CEO Richard O’Brien said the company is “extremely pleased with the outcome” of the sale.
Newmont shares rose 15 cents to $47.43 in morning trading.
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