09:23 AM EDT, 09/15/2025 (MT Newswires) -- Newmont ( NEM ) was at last look down 0.5% in US premarket trade Monday as it agreed to sell the Coffee project in Yukon to Fuerte Metals ( FUEMF ) for up to US$150 million.

This comes after Fuerte -- which saw its shares jump 12% last Friday -- late Friday afternoon announced that it had entered into a definitive agreement to sell its 100% owned El Cofre project in Chile to Chilean Cobalt Corp. Under the terms of the agreement, Cobalt Chile SpA, a wholly owned subsidiary of Fuerte Metals ( FUEMF ), will transfer 100% ownership of the mining concessions to a wholly owned subsidiary of Chilean Cobalt. In exchange, Cobalt Chile SpA will receive 4.5 million common shares of Chilean Cobalt, for total consideration of US$1.89 million, as well as reimbursement for the most recent concession payments.

It also comes after Fuerte last Wednesday responded to a request by the Canadian Investment Regulatory Organization to comment on the recent increase in the market price of its common shares. In it the company said it had "engaged in discussions regarding a potential transaction with a third party, but it has not reached agreement with the counterparty regarding the terms and conditions of the transaction."

In terms of the Newmont ( NEM ) deal announced today, consideration comprises US$10 million in cash, US$40 million in Fuerte shares and a 3.0% net smelter royalty, which Fuerte can repurchase for up to US$100 million.

The transaction is expected to close in the fourth quarter.

"The sale of the Coffee Project reflects our ongoing efforts to streamline the portfolio and sharpen our focus on core operations," Newmont's ( NEM ) Chief Executive Officer Tom Palmer said.

Following the sale, Newmont ( NEM ) will have divested all six operations under its non-core asset divestment program.