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Newmont Goldcorp offloads Red Lake to Evolution for US$375 millionAustralia-based Evolution Mining plans US$150 million in mine upgrades for Red Lake

Australia-based Evolution Mining plans US$150 million in mine upgrades for Red Lake

By Matthew Parizot

November 26, 2019

Red Lake Complex's new owners will put a three-year plan in place to turn it into a "cornerstone asset." Courtesy of Newmont Goldcorp.

Australian gold producer Evolution Mining is making its foray into the Canadian market by entering into an agreement to purchase Newmont Goldcorp’s Red Lake complex in northwestern Ontario for US$375 million plus an additional US$100 million in contingent payments.

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