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 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.