Newmont Shares Climb After $439M Sale of Orla Mining Stake
The divestment is a key step in the gold miner's broader strategy to generate $2 billion from asset sales and streamline its portfolio.
Newmont Corporation (NYSE: NEM) saw its shares rally after the gold mining giant announced the sale of its entire stake in Orla Mining Ltd., a move that underscores its commitment to optimizing its asset portfolio. The transaction generated gross proceeds of approximately C$605 million, or $439 million.
In response to the news, in afternoon trading. The sale involves 43 million common shares, representing Newmont's full 13.3% interest in the Canadian-based gold producer.
This divestment is a significant part of Newmont's larger strategic plan to generate more than $2 billion through disciplined asset sales. The proceeds are intended to strengthen the company's balance sheet and support its capital allocation priorities, including investing in high-margin, Tier-1 assets.
Tom Palmer, Newmont's President and CEO, commented on the sale, stating it demonstrates the company's focus on ' to support Newmont's capital allocation priorities.' The move brings Newmont's total after-tax proceeds from asset sales in 2025 to approximately $900 million.
While Newmont's stock saw a healthy rise, Orla Mining's shares fell on the news, dropping nearly 8% in Toronto. The market's divergent reaction highlights investor confidence in Newmont's strategic direction, even as Orla adjusts to the exit of a major shareholder. Newmont's sale of its interest marks the conclusion of a long-standing investment, which saw Orla develop key projects like the Camino Rojo Mine.
The transaction is the latest in a series of strategic moves by Newmont to refine its holdings and focus on its core, world-class assets. Investors will be watching closely as the company continues to execute its portfolio optimization strategy and reallocate capital towards its most promising growth projects.