NEM

African Rainbow Minerals' announcement of a substantial copper venture in Papua New Guinea with Newmont requires a significant investment of $4 billion to $5 billion. This strategic move might have caused a sell-off in Newmont's stock as investors reacted to the news, leading to a temporary decline in its market value.

Despite Newmont's strong financial performance and operational efficiency, the company has faced challenges such as declining ore grades and inflationary pressures. These factors could have contributed to a cautious market sentiment, leading to a decline in the stock price.