Sept 19 (Reuters) - Gold miner Newmont ( NEM ) said on

Friday it sold its stake in Orla Mining ( ORLA ) for $439

million through the Toronto Stock Exchange as part of its

divestiture program.

The company disposed of the entire 43 million shares it held

in Orla Mining ( ORLA ) at $10.14 per share.

Last year, Newmont ( NEM ) announced plans to divest non-core

assets, trim its workforce and cut debt after its $17.14 billion

acquisition of Australian firm Newcrest.

Newmont ( NEM ) was looking to unlock more than $2 billion in cash

through portfolio optimization following the Newcrest

acquisition, with a focus on expanding Tier 1 assets as part of

its broader transformation plan.

Since November 2024, the company has divested several of its

Canadian assets, including the Musselwhite Gold Mine in Ontario,

which it agreed to sell to Orla in an $850 million deal.

The stake sale is part of the company's push to streamline

its equity portfolio and free up cash to support capital

allocation priorities, Newmont ( NEM ) CEO Tom Palmer said.