Newcrest to sell Bonikro interests for $81 million

Company News

by Jessica Amir

Gold producer, Newcrest Mining (ASX:NCM) has inked a deal to sell its Ivory Coast Bonikro mining interests for $81 million.

Newcrest 89.89 per cent holding is being sold to a consortium of buyers for $72 million cash, plus a smelter royalty of $9 million.

The sales follows the gold giant’s strategic review, which delivers value to Newcrest shareholders.

Newcrest’s guidance will be updated after the transaction is completed, while the effective date of the sale will be 1 October 2017.

Shares in Newcrest Mining (ASX:NCM) are trading 0.78 per cent lower to $22.29.
 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.