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Newmont completes acquisition of properties from Skeena Resources to support land use planning in Tahltan Territory

Kitco Media
By Vladimir Basov
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(Kitco News) - Newmont (TSX: NGT) announced Thursday that it has closed a transaction with Skeena Resources (TSX: SKE) to acquire certain properties located in Tahltan Territory in northwestern British Columbia.

Skeena said that under the terms of the asset sale, Newmont acquired 100% of Skeena's rights, titles, and interests in and to the Heart Peaks, Castle, Moat, Coyote, and North ROK properties, which were previously owned by QuestEx, in exchange for consideration of approximately C$27 million, including the purchase by Skeena of Newmont's QuestEx shares.

In a statement, Newmont noted it will work in collaboration with the Tahltan Nation, the Iskut community and the British Columbia government to make available portions of the acquired properties to support the land use planning objectives of the Tahltan Nation and the Iskut community.

“We are committed to sustainable resource development and developing a world class mining jurisdiction while protecting and conserving lands that are important to the Tahltan Nation and the Iskut community," said Newmont President and CEO Tom Palmer. “The mining claims around Iskut are not being purchased for development or their mineral potential, but in an effort to address concerns raised through our engagement with the Tahltan Nation."

In 2021, Newmont acquired the Saddle North deposit through the acquisition of GT Gold Corporation. At the time of acquisition, the company recognized and continues to acknowledge the need for Tahltan consent to advance the project.

Newmont is the world's leading gold company and a producer of copper, silver, zinc and lead. The company is the only gold producer listed in the S&P 500 Index. Newmont was founded in 1921 and has been publicly traded since 1925.

Skeena Resources is a Canadian mining exploration and development company focused on revitalizing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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