Newmont Sells Royalty Portfolio for $90 Million

DENVER, CO - Newmont Corporation has entered into a definitive agreement with Maverix Metals Inc. to sell a portfolio of eleven royalties. Newmont will receive total consideration of approximately $90 million from Maverix, consisting of $15 million in cash, 12 million Maverix common shares, and up to $15 million in contingent cash payments payable upon completion of certain milestones.

The royalties provide exposure to five flagship gold assets owned and operated by growth-oriented mining companies. The portfolio includes royalties on Camino Rojo and Ana Paula in Mexico, Cerro Blanco in Guatemala, and Mother Lode and Imperial in the United States.

The Transaction builds on Newmont’s existing ownership interest in Maverix and provides the Company additional participation in the future upside of a growing royalty and streaming business. Maverix’s diversified portfolio includes over 100 royalties and streams across 18 countries, with assets predominately located in Australia the Americas and Mexico. Closing of the Transaction is expected to occur in the fourth quarter of 2020 upon completion of customary closing conditions, and once completed, Newmont’s ownership interest in Maverix will increase from 26 percent to approximately 32 percent.