Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) has entered into a definitive deal to buy the Musselwhite gold mine from Newmont (TSX:NGT,NYSE:NEM), positioning the company to more than double its annual gold production.

DENVER, November 18, 2024 -- ( BUSINESS WIRE )-- Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) ("Newmont" or the "Company") announced today that it has agreed to sell its Musselwhite operation in Ontario, Canada, to Orla Mining Ltd ("Orla") for up to $850 million in total consideration.

Newmont Corp sells Musselwhite mine in Ontario to Orla Mining (ORLA) for up to $850 million in cash & contingent payments, pushing total divestment proceeds past $2 billion.