Orla Mining buys Newmont's Musselwhite gold mine for $810M, boosting its annual production capacity.

Orla Mining Ltd. has agreed to buy Newmont Corp.'s Musselwhite gold mine in Ontario for $810 million, with a potential additional $40 million based on future gold prices. The mine, operational for over 25 years, holds 1.5 million ounces of proven and probable gold reserves. This acquisition will more than double Orla's gold production to over 300,000 ounces annually, combining its current Camino Rojo mine output in Mexico. The deal is part of Newmont's strategy to divest non-core assets, aiming to generate up to $2.9 billion in proceeds.

November 18, 2024
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