Newmont sells entire Orla stake for $439M

Ben Graham · Setembro 19

Newmont (NYSE: NEM; TSX: NGT) has sold its entire stake in Orla Mining (TSX: OLA) for $439 million, marking another step in its broader divestiture program aimed at streamlining its portfolio.

The company disposed of all 43 million Orla shares at $10.14 per share through the Toronto Stock Exchange. The sale comes amid Newmont’s efforts to unlock more than $2 billion in cash through asset sales, workforce reductions, and debt cuts following its $17.14 billion takeover of Australia’s Newcrest in 2023.

Shares of Newmont rose 3% in New York following the announcement, lifting its market capitalization to $88.6 billion, while Orla shares fell 7.8%, valuing the company at $3.32 billion.

Divestiture drive

Since November 2024, Newmont has divested several Canadian assets, including the Musselwhite gold mine in Ontario, which it agreed to sell to Orla Mining in an $850 million transaction. Earlier this week, it announced a deal to sell the Coffee gold project in Yukon to Fuerte Metals (TSXV: FMT) for up to $150 million, completing a year-long divestment program.

The move follows Agnico Eagle Mines’ (TSX, NYSE: AEM) decision earlier this month to sell its 11.3% stake in Orla for $560.5 million at $14.75 per share.

CEO Tom Palmer said the Orla stake sale is part of Newmont’s strategy to streamline its equity portfolio and unlock significant cash to support Newmont’s capital allocation priorities.

Newmont applied last week to voluntarily delist from the Toronto Stock Exchange, citing low trading volumes, though it remains listed in New York. The miner continues to operate Canadian assets such as the Brucejack and Red Chris mines.

Orla – which has two producing assets, the Camino Rojo oxide mine in central Mexico and the Musselwhite mine – forecast consolidated gold output this year to hit 265,000-285,000 ounces.