Strategic Gold Mine Acquisition: Orla Mining Doubles Production with $850M Musselwhite Deal

Toronto, Monday, 18 November 2024.
In a transformative move announced today, Orla Mining will acquire the Musselwhite gold mine from Newmont for CAD 850 million, set to double its annual gold production to 300,000 ounces. The deal positions Orla for potential growth to 500,000 ounces annually through additional development projects, marking a significant shift from single-mine operator to multi-asset producer. The transaction, expected to close in Q1 2025, includes CAD 810 million upfront and CAD 40 million in contingent payments, with Musselwhite projected to generate over $150 million in yearly free cash flow over the next six years.