Newmont Sells Canadian Gold Mine for $850 Million in Latest Deal

Newmont Corp. agreed to sell its Musselwhite gold mine in Ontario to Orla Mining Ltd. for up to $850 million as part of a divestment campaign designed to boost shareholder returns.

The deal with Orla is expected to close in the first quarter of next year, and will raise Newmont’s gross proceeds from sales of non-core assets to more than $2 billion, it said in a statement on Monday.

The world’s top gold miner began offloading smaller mines across Australia, Africa and North America following its acquisition of Newcrest Mining in 2023. With its share price trailing a blistering rally ...