Greatland open to Havieron outcomes

Greatland Gold managing director Shaun Day says the company would be open to consolidating ownership of the Havieron gold-copper project if the opportunity presented itself.

Following its $26 billion merger with Newcrest Mining last year, Newmont Corporation – the world’s largest gold producer – acquired a 70 per cent stake in Havieron, an adjacent joint venture with Andrew Forrest-backed Greatland.

On February 23, Newmont announced its intention to divest six of its non-core assets, including both Pilbara-based Havieron and Telfer goldmine.

Due to its joint venture interest in the project, Greatland holds a right of last refusal in respect of the sale of Newmont’s stake in Havieron to a third party.

“Overall, we are confident there is currently significant option value in Greatland with Newmont's 70 per cent interest in Havieron considered non-core and our existing last right of refusal on any sale,” Mr Day said in Greatland’s Havieron March 2024 quarterly update.

“If an opportunity to consolidate ownership of Havieron were to arise we would be highly focused on delivering an accretive outcome for our existing shareholders with a view to delivering a world-class Australian gold copper asset.”