Newmont sells entire Orla stake for about $439 million in divestiture push

Core Viewpoint - Newmont has sold its stake in Orla Mining for $439 million as part of its divestiture program, aiming to streamline its portfolio and enhance cash flow [1][3]. Group 1: Divestiture Details - Newmont sold 43 million shares of Orla Mining at a price of $10.14 per share [1]. - The sale is part of a broader strategy to divest non-core assets and optimize its portfolio following the $17.14 billion acquisition of Newcrest [1][2]. Group 2: Financial Strategy - The company aims to unlock over $2 billion in cash through portfolio optimization, focusing on expanding Tier 1 assets [2]. - Newmont has been divesting several Canadian assets, including the Musselwhite Gold Mine, which was sold to Orla in an $850 million deal [2]. Group 3: Management Perspective - Newmont's CEO, Tom Palmer, stated that the stake sale is intended to streamline the equity portfolio and free up cash for capital allocation priorities [3].