Coeur Mining buying New Gold and its two Canadian gold mines for US$7B

U.S. gold miner Coeur Mining, Inc. has signed a deal to buy New Gold Inc. and its two gold mines in Canada in an all-stock deal valued at about US$7 billion. (Source: Province of Nova Scotia / File)

TORONTO — U.S. gold miner Coeur Mining, Inc. has signed a deal to buy New Gold Inc. and its two gold mines in Canada in an all-stock deal valued at about US$7 billion.

Under the agreement, New Gold shareholders will receive 0.4959 shares of Coeur for each New Gold share.

The companies say the exchange ratio implies a value of US$8.51 per New Gold share, based on the closing price of Coeur shares of common stock on the New York Stock Exchange on Oct. 31.

Existing Coeur shareholders will own about 62 per cent of the combined company, while New Gold shareholders will hold about 38 per cent.

New Gold owns the Rainy River mine in Ontario and the New Afton mine in B.C.

The combined company will have seven operations producing a total of about 1.25 million gold equivalent ounces in 2026, including 20 million ounces of silver and 900,000 ounces of gold.

This report by The Canadian Press was first published Nov. 3, 2025.