Greatland Gold is set to close its acquisition of Newmont’s Telfer and Havieron assets this week, positioning the company to become a significant Australian gold and copper producer.
The company has confirmed December 4 as the scheduled completion date of its deal with Newmont.
“It is a credit to the exceptional efforts of the Greatland, Newmont and Telfer teams that we have been able to move efficiently and quickly towards completion well inside our target of the December 2024 quarter,” commented Greatland MD Shaun Day.
He added that completion would mark the “beginning of a new chapter” for Greatland.“The combination of immediate production from the Telfer operations and our planned completion of the development of the world-class Havieron project provides an exceptional platform for continued growth.”
Greatland was in a joint venture with Newmont at Havieron – a deposit that it discovered in 2018. The company had a right of first refusal on the asset.
The acquisition also comes as part of Newmont’s broader divestiture strategy following its 2023 acquisition of Newcrest Mining. The US-based mining giant is shedding several non-core assets, including Telfer and Havieron, as well as its Canadian Éléonore and Musselwhite mines, and its Akyem mine in Ghana.