RTTNews | Nov 22, 2021 08:49PM EST

20:49 Monday, November 22, 2021 (RTTNews.com) - Newmont Corp. (NEM, NGT.TO) has agreed to sell its Kalgoorlie power business to Australia's Northern Star Resources Limited (NST.AX).

As per terms of the agreement, Newmont receives US$95 million in cash, inclusive of the US$25 million option payment previously received from Northern Star as part of its purchase of Newmont's 50 percent stake in Kalgoorlie Consolidated Gold Mines (KCGM) in 2020.

The Kalgoorlie power business supplies electricity to KCGM via a suite of contracts, licenses, approvals and third party arrangements, including a 50% interest in the 110MW duel fuel gas turbine Parkeston Power Station near Kalgoorlie, owned in joint venture with Canadian energy utility, TransAlta Corp.

Read the original article on RTTNews ( https://www.rttnews.com/3244171/newmont-to-sell-kalgoorlie-power-business-to-australia-s-northern-star-resource.aspx)

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