Newmont Signs LoI To Sell Midas Operation To Waterton - Quick Facts

(RTTNews) - Gold miner Newmont Mining Corp. (NEM) said Tuesday it has signed a Letter of Intent to sell its Midas operation in Nevada to Waterton Global Resource Management Inc. The proposed deal is subject to customary closing conditions.

"Consistent with our strategy to deliver value to our shareholders and strengthen our portfolio by divesting non-core assets, we are working with Waterton to explore the sale of our Midas operation in Nevada," said Randy Engel, Executive Vice President, Strategic Development of Newmont.

The parties have agreed that the LOI will terminate on October 14, unless extended, or earlier superseded by the acquisition agreement.