VANCOUVER — Orla Mining Ltd. has signed a deal to purchase the Musselwhite gold mine in Ontario from Newmont Corp.
Below the deal, the corporate can pay US$810 million plus as much as a further US$40 million, relying on the value of gold after the deal closes.
Musselwhite is an underground gold mine in northwestern Ontario that has been in operation for over 25 years.
The mine had 1.5 million ounces of confirmed and possible gold reserves at Dec. 31, 2023.
Orla already owns the Camino Rojo gold mine in Mexico and the South Railroad venture in america.
It says the mix of Musselwhite and Camino Rojo will greater than double the corporate’s annual gold manufacturing to over 300,000 ounces.
This report by The Canadian Press was first revealed Nov. 18, 2024.
Corporations on this story: (TSX:OLA)
The Canadian Press
