Goodmans advising Newmont; BLG representing Fuerte
Newmont Corporation, the world’s largest gold mining company, has struck a deal to sell its Coffee Gold Project in Yukon, Canada, to Vancouver-based Fuerte Metals Corporation. The transaction, valued at up to US$150 million, marks another step in Newmont’s ongoing effort to streamline its global portfolio.
Fuerte Metals, a junior exploration and development company, is building a portfolio of copper and gold assets across the Americas. Its holdings include the Placeton–Caballo Muerto Project in Chile and the Christina and Yecora Projects in Mexico.
The sale comes as Newmont moves forward with a broader divestment plan announced in February 2024. The company had signaled its intent to shed non-core assets, including six operations and two projects across Australia, Ghana, and North America. With the Coffee deal, Newmont will have completed the sale of all assets it previously classified as held for sale.
The Coffee Gold Project sits roughly 130 kilometers south of Dawson in Yukon Territory, an area gaining traction among miners for its geology, improving infrastructure, and support from both government and First Nations. The site hosts an estimated 3.0 million ounces of open-pit, heap-leach measured and indicated resources, plus an inferred resource of 0.8 million ounces.
Located within the Yukon-Tanana Terrane and the broader Tintina Gold Province, Coffee is part of a region known for multi-million-ounce deposits and active mines, including Kinross’ Fort Knox and Snowline’s Valley deposit. The area’s lack of glaciation has helped preserve extensive oxide ore bodies, such as Coffee and the nearby Casino copper-gold deposit.
The project has changed hands several times over the past decade. Kaminak Gold first acquired Coffee in 2009, launching a series of exploration programs and publishing resource estimates. Goldcorp bought Kaminak for $520 million in 2016, advancing exploration and engineering work. Newmont took over the project in 2019 through its merger with Goldcorp, continuing with permitting and technical studies.
“The sale of the Coffee Project reflects our ongoing efforts to streamline the portfolio and sharpen our focus on core operations,” said Newmont CEO Tom Palmer in a press release. “Throughout the process, we were committed to identifying a buyer who shares our values and can develop the Coffee project in a socially and environmentally conscious manner. We are pleased to be selling this asset to Fuerte and have full confidence in their ability to honor agreements and relationships with the First Nations partners and other stakeholders that are connected to the project.”
“The acquisition of Coffee is highly transformational for Fuerte,” said Fuerte CEO Tim Warman. “The project is on a clear path to complete permitting and has strong financial and technical partners who have the vision to advance the project to production and build the next great Canadian gold producer. We respectfully acknowledge that protection of the water and lands around the Coffee Creek and mine project areas is of high importance to First Nations. Through cooperation, transparency, and respect, we pledge to continue to build on relationships with Tr'ondëk Hwëch'in, White River First Nation, Selkirk First Nation and the First Nation of Na-Cho Nyäk Dun, on whose Traditional Territories exploration and mining activities will be carried out.”
Borden Ladner Gervais LLP is acting as legal counsel to Fuerte, with Trinity Advisors Corporation as the financial advisor.
Goodmans LLP is acting as legal counsel to Newmont with BMO Capital as the financial advisor.
The deal is expected to close in the fourth quarter of 2025, subject to customary closing conditions.
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