Newmont sells entire Orla stake for $439M

Core Viewpoint - Newmont has divested its entire stake in Orla Mining for $439 million as part of a broader strategy to streamline its portfolio and unlock cash resources [1][2][4]. Group 1: Newmont's Divestiture Strategy - Newmont sold 43 million shares of Orla at $10.14 per share through the Toronto Stock Exchange, contributing to its goal of raising over $2 billion through asset sales and workforce reductions [2][4]. - Following the sale, Newmont's shares increased by 3%, raising its market capitalization to $88.6 billion, while Orla's shares dropped by 7.8%, valuing the company at $3.32 billion [2]. - The divestiture program has included the sale of several Canadian assets, such as the Musselwhite gold mine for $850 million and the Coffee gold project for up to $150 million [3]. Group 2: Orla Mining's Position - Orla Mining operates two producing assets: the Camino Rojo oxide mine in Mexico and the Musselwhite mine, with a forecasted gold output of 265,000-285,000 ounces for the year [5]. - The recent stake sale by Agnico Eagle Mines, which sold its 11.3% stake in Orla for $560.5 million, indicates a trend of significant divestitures in the sector [4].