Newmont sells its 13.3% stake in Orla Mining for $605 million

This April 4, 2012, file photo shows the Newmont Gold Quarry pit in Battle Mountain, Nev. (David B. Parker/The Reno Gazette-Journal via AP, File)

TORONTO — Newmont Corp. says it has sold its 13.3 per cent stake in Orla Mining Ltd. for about $605 million as it works to streamline its equity portfolio.

The company says it sold 43.2 million shares through the Toronto Stock Exchange for $14 per share.

Newmont chief executive Tom Palmer says the sale unlocks cash to support its priorities.

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Orla’s assets include the Camino Rojo mine in Mexico and the Musselwhite mine in Ontario.

The sale by Newmont follows an announcement earlier this month by Agnico Eagle Mines Ltd. that it sold its 11.3 per cent stake in Orla.

Agnico Eagle sold its shares for a price of $14.75 each for a total of $560.5 million.

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This report by The Canadian Press was first published Sept. 19, 2025.