Orla Mining’s (TSX: OLA) $850-million (C$1.22-billion) Musselwhite gold mine purchase in Ontario doubles production and cash flow, CEO Jason Simpson says.
The acquisition helps Orla expand in Canada, the United States and Mexico. This plan aims to reduce risks from tariffs and political changes, Simpson said in an interview this week.
“We knew we were purchasing a six‐year mine life,” he told host Devan Murugan at sister publication Mining.com on a video call. “But our geologists gave us the confidence to extend mine life and uncover additional gold resources.”
The asset’s former owner, Newmont (NYSE: NEM), set a high bar for community engagement and cost discipline, Orla’s boss said. The new owner plans to replicate Newmont’s stakeholder relationships and restart surface drilling at Musselwhite for the first time since 2018. It will help strengthen its status as a low-cost producer during tough economic times, Simpson said.
Watch the full interview below:
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