Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) has entered into a definitive deal to buy the Musselwhite gold mine from Newmont (TSX:NGT,NYSE:NEM), positioning the company to more than double its annual gold production.

Newmont agrees to sell Musselwhite mine in Ontario for up to $850M to Orla Mining, as part of its asset divestment strategy.

Canada’s Orla Mining (TSX: OLA) is buying Newmont’s (NYSE: NEM) Musselwhite gold mine in Ontario for $850 million, enabling it to more than double production of the precious metal, at times when prices are hovering near record highs.