10:30 AM EDT, 08/01/2025 (MT Newswires) -- (Updates with details on Akyem Mining Lease Ratification and updates shares)

Newmont ( NEM ) , the No.1 gold producer, announced Friday that the Parliament of Ghana ratified the renewal of the Akyem East Mining Lease.

According to Newmont's ( NEM ) definitive agreement to divest its Akyem operation in the Republic of Ghana, Zijin Mining Group Co agreed to pay Newmont US$100 million upon receipt of the lease ratification. The company said that the payment has been received, bringing total after-tax cash proceeds from the sale of Akyem to approximately US$770 million.

Newmont ( NEM ) said it now expects to generate US$3.1 billion in after-tax cash proceeds from its divestiture program in 2025, including US$2.6 billion from divested assets and approximately US$470 million from the sale of equity shares in Greatland Resources Limited and Discovery Silver Corp ( DSVSF ) .

The company will use the proceeds to support its capital allocation priorities, which include reducing outstanding debt and returning capital to shareholders.

This comes after the company overnight Thursday said it sold its 9.4% stake in Orosur Mining ( OROXF ) . In a statement, the company said it sold 29.2 million common shares in a private transaction for C$0.19 each, for gross proceeds of C$5.55 million. Newmont ( NEM ) said the shares were sold for investment purposes.

The company's shares were last seen down 0.6% on the Toronto Stock Exchange amid big losses for the broader market.

Price: 85.49, Change: -0.53, Percent Change: -0.62