Newmont Completes Sale of its Interest in Orla Mining for $439 Million
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Newmont has completed the sale of common shares of Orla Mining or aggregate gross proceeds of $439 million (C$605 million).
“Today’s announcement demonstrates Newmont’s ongoing commitment to streamlining our equity portfolio and unlocks significant cash to support Newmont’s capital allocation priorities,” said Tom Palmer, Newmont’s chief executive officer.
“We value the strong relationship we’ve had with Orla since our initial investment. From the development of Camino Rojo to the acquisition of Musselwhite from Newmont early this year, we are delighted to have been part of Orla’s beginning. While this marks the end of our ownership in Orla, we are confident in their continued ability to drive value for shareholders,” added Palmer.
“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,” said Orla’s President and Chief Executive Officer, Jason Simpson.
“As we continue to execute on our growth strategy, we remain focused on creating long-term value for our stakeholders while broadening and diversifying our investor base,” added Simpson.
Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
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