Newmont Sells Stake in Canadian Gold Mine After Production Lags

Struggles Continue for World's Largest Gold Miner

Sale Marks Shift in Strategy as Newmont Focuses on Higher Growth Projects

Newmont Corporation, the world's largest gold miner, sold a significant portion of its stake in a Canadian gold mine after the project lagged production targets.

The sale of the stake in the Brucejack mine comes as the company focuses on higher-growth projects.

The sale, to Vancouver-based Pretium Resources, includes a 50% interest in the Brucejack mine in northern British Columbia, as well as certain exploration properties in the area.

The sale is a significant departure from Newmont's previous strategy of acquiring and developing large, long-lived gold mines.

In recent years, however, the company has been divesting underperforming assets and focusing on smaller, higher-growth projects.

The Brucejack mine has struggled to meet production targets since it began commercial production in 2017.

The mine has been plagued by a number of issues, including problems with underground infrastructure and a shortage of skilled workers.

As a result, the mine has consistently failed to meet its production targets, and Newmont has been forced to write down the value of the asset.

The Brucejack mine is a complex, underground operation that has been plagued by a number of technical and operational challenges.

The mine has been plagued by problems with underground infrastructure, including ventilation and drainage issues.

The mine has also been hit by a shortage of skilled workers.

The sale of its stake in the asset is part of Newmont's broader strategy of divesting underperforming assets and focusing on smaller, higher-growth projects.

The company has been focusing on acquiring and developing smaller, higher-growth projects, such as the Tanami mine in Australia.

Newmont's sale of its stake in the Brucejack mine is a sign that the company is shifting its focus to higher-growth projects.

The company is hoping that its focus on smaller, higher-growth projects will help it to improve its financial performance.