Orla’s Camino Rojo mine in Zacatecas state, Mexico. Credit: Orla Mining
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…
