Orla Mining’s $850M Buyout of Newmont’s Canadian Asset

Newmont Corporation divests its Musselwhite mine to Orla Mining in a strategic move to streamline operations and boost shareholder value.

Editorial Team (ET)July 2, 2025

Newmont Corporation, the world’s leading gold miner, has entered into an agreement to sell its Musselwhite gold mine in Ontario to Orla Mining Ltd. for $850 million. The deal, which is expected to close in the first quarter of 2025, underscores Newmont’s focused approach to portfolio management and shareholder value enhancement. The transaction includes $810 million in cash and up to $40 million in contingent payments.

Strategic Shift in Portfolio Management

This sale is part of Newmont’s larger divestment strategy, which began in earnest following its high-profile acquisition of Newcrest Mining in 2023. By shedding smaller, non-core assets across key regions such as Australia, Africa, and North America, the company aims to streamline operations and concentrate on high-performing properties. With this latest deal, Newmont’s gross proceeds from asset sales will surpass $2 billion, reflecting its commitment to capital efficiency.

The Newcrest Mining Effect

Newmont’s acquisition of Newcrest was a defining moment for the company, significantly expanding its global footprint and resource base. However, the acquisition also brought a host of new assets that required evaluation. The divestiture of the Musselwhite mine is part of a calculated effort to focus on properties with the greatest potential for returns. This disciplined approach has reassured investors, even as the gold market experiences a significant rally.

Boosting Shareholder Returns

Proceeds from the sale will be directed toward reducing debt and repurchasing shares, actions that align with Newmont’s promise to deliver competitive returns to its shareholders. The company has already earmarked more than $3 billion for share buybacks by 2026, a move designed to increase share value and reward investors directly. This strategy demonstrates a long-term vision for financial stability and growth.

The Broader Gold Market Context

The deal comes at a time when spot gold prices have soared over 25% this year, driven by global economic uncertainties and strong investor demand for safe-haven assets. However, Newmont’s share price has not kept pace with the rally, showing a slight year-to-date loss of 1.1%. The divestiture strategy is expected to improve Newmont’s financial performance by reducing operational burdens and freeing up capital for strategic initiatives.

The Role of Orla Mining

For Orla Mining, acquiring the Musselwhite mine represents a significant opportunity to expand its asset base in a premier mining jurisdiction. Known for its expertise in exploration and development, Orla is well-positioned to maximize the mine’s potential, bringing a fresh perspective to its operations.

Conclusion

Newmont’s sale of the Musselwhite gold mine to Orla Mining is a calculated move that aligns with its strategy of enhancing shareholder value and maintaining financial discipline. By divesting non-core assets, Newmont is not only simplifying its portfolio but also reaffirming its position as an industry leader capable of navigating the complexities of the gold market.

Newmont

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