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 joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.