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2h ago

Newmont Exits Orla With Full Stake Sale, Unlocking Nearly $900 Million After Tax

The cash will be redeployed to Newmont’s stated capital priorities.

A small toy figure and gold imitation are seen in front of the Newmont logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
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Overview

  • Newmont sold its entire 13.3% stake in Orla Mining by disposing of 43 million shares on the Toronto Stock Exchange.
  • The shares were sold at US$10.14 each, or C$14.00, for gross proceeds of US$439 million.
  • Newmont said the transaction generated nearly US$900 million in after-tax proceeds.
  • CEO Tom Palmer framed the move as part of streamlining Newmont’s equity portfolio to support capital allocation priorities.
  • Orla CEO Jason Simpson credited Newmont-linked assets for aiding Orla’s growth, while Newmont shares traded slightly higher and Orla fell in premarket trading.