Newmont Selling Canadian Gold Mine to Orla Mining For Up To $850 Million

MT Newswires11-19

Orla Mining.jpg -Shutterstock Canadian miner Orla Mining (ORLA) agreed to buy the Musselwhite Gold Mine in Ontario from Newmont Corp. (NEM) for up to $850 million, a deal that would more than ...

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(NEM) for up to $850 million, a deal that would more than ...</p>\n\n<a href=\"https://finance.yahoo.com/news/newmont-selling-canadian-gold-mine-163707372.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0496367417.USD","symbol_name":"富兰克林黄金和贵金属A（acc）","start_time":0,"source_url":"https://finance.yahoo.com/news/newmont-selling-canadian-gold-mine-163707372.html","article_id":"2484609137","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/gD3ZGO9PQsAs.UFp5GZEyQ--~B/aD03Njg7dz0xMDI0O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/mt_newswires_premium_news_706/0222681a33ad5993d440d0eae42ac07b"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484609137","pubTimestamp":1731947827,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Canadian miner Orla Mining  agreed to buy the Musselwhite Gold Mine in Ontario from Newmont Corp.  for up to $850 million, a deal that would more than double Orla's annual gold production capacity.Orla Mining will make an upfront cash payment of $810 million, with a gold price-linked contingent consideration of $40 million, the companies said in separate statements on Monday.The deal provides Orla a presence in Ontario, \"one of the premier mining jurisdictions in the world,\" Chief Executive Jason Simpson said in a statement. The transaction adds a second high-margin asset to Orla's portfolio and more than doubles its annual gold production to over 300,000 ounces.\"The mine has a proven history of successful production, cash generation, and reserve replacement, having consistently added to mine life,\" Simpson said.The new business is expected to be \"materially accretive\" to all key operating and financial per-share metrics, Orla wrote. 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(NEM) for up to $850 million, a deal that would more than double Orla's annual gold production capacity.\n\n Orla Mining will make an upfront cash payment of $810 million, with a gold price-linked contingent consideration of $40 million, the companies said in separate statements on Monday. \n\n The deal provides Orla a presence in Ontario, \"one of the premier mining jurisdictions in the world,\" Chief Executive Jason Simpson said in a statement. The transaction adds a second high-margin asset to Orla's portfolio and more than doubles its annual gold production to over 300,000 ounces.\n\n \"The mine has a proven history of successful production, cash generation, and reserve replacement, having consistently added to mine life,\" Simpson said. \n\n The transaction -- expected to close in the first quarter of 2025 -- is part of Newmont's plan to divest its non-core assets. Colorado-based Newmont is a gold company and a producer of copper, zinc, lead, and silver.\n\n Non-core asset divestitures announced since February are expected to \"deliver up to $2.9 billion in gross proceeds to support Newmont's capital allocation priorities, which include strengthening our balance sheet and returning capital to shareholders,\" Newmont Chief Executive Tom Palmer said.\n\n Orla's NYSE American-listed shares were up 7.7% in Monday trade, while Newmont's stock gained 3.6%. Gold futures climbed 1.7% to about $2,613 per troy ounce, rebounding on geopolitical concerns after a deep weekly loss, Saxo Bank wrote in a Monday note. \n\n The new business is expected to be \"materially accretive\" to all key operating and financial per-share metrics, Orla wrote. The company expects its annual gold output to cross 500,000 ounces once the South Railroad Project in Nevada begins production in 2027.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484609137"}