The operation is expected to be the third-largest copper mine in the U.S., employing about 500 people and accounting for approximately 10% of the country’s total copper production.
The Montana, U.S.-based Sunlight mine has been approaching the end of its operational life in recent years and its remaining gold reserves are nearly depleted.
The holder of over 14 million Newmont shares sent the CEO a letter that outlines how the deal, under the current terms, creates negative value for Newmont shareholders.