Newmont exits Orla Mining with $439m stake sale
US miner Newmont has sold its entire 13.3% interest in Orla Mining, generating $439-million in gross proceeds as the world’s top gold producer streamlines its portfolio.
The Denver-based miner disposed of 43-million Orla shares on the TSX at $10.14 apiece, equivalent to C$14, the company said Friday. The transaction leaves Newmont with no remaining equity in Orla.
“Today’s announcement demonstrates Newmont’s ongoing commitment to streamlining our equity portfolio and unlocks significant cash to support Newmont’s capital allocation priorities,” CEO Tom Palmer said in a statement.
Newmont’s exit ends a relationship that began when it invested in Orla during the development of the Camino Rojo gold mine in Mexico. Earlier this year, Orla acquired the Musselwhite mine in Ontario from Newmont.
“We value the strong relationship we’ve had with Orla since our initial investment,” Palmer said. “While this marks the end of our ownership in Orla, we are confident in their continued ability to drive value for shareholders.”
Orla CEO Jason Simpson credited Newmont with helping to shape the company’s asset base. “Orla’s portfolio has been built, in part, through the acquisition of former Newmont assets. We are grateful for the confidence placed in us to advance these projects responsibly and to unlock their full potential,” he said.
The deal contributes to nearly $900-million in after-tax proceeds Newmont has raised from equity divestments in 2025.
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