Coeur Mining, New Gold Announce $7 Billion Merger to Create Major Precious Metals Producer
The merger will form a 100% North American-based senior mining company with a market capitalization of nearly $20 billion.
SEATTLE (Scrap Monster): Coeur Mining, Inc. and New Gold Inc. have announced a definitive merger agreement under which a wholly-owned subsidiary of Coeur will acquire all issued and outstanding shares of New Gold, creating a powerful North American precious metals producer.
As per the terms of the deal, New Gold shareholders will receive 0.4959 shares of Coeur common stock for each New Gold share they hold. The transaction values New Gold at approximately $7 billion. Upon completion, Coeur shareholders will own around 62%, while New Gold shareholders will hold about 38% of the newly combined company’s outstanding stock.
The merger will form a 100% North American-based senior mining company with a market capitalization of nearly $20 billion. The combined portfolio will include seven high-quality operations, incorporating New Gold’s two Canadian mines, and is projected to produce approximately 1.25 million gold-equivalent ounces in 2026.
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Financially, the merged entity is expected to deliver around $3 billion in EBITDA and $2 billion in free cash flow by 2026, supported by lower costs, improved efficiencies, and enhanced profit margins.
With this merger, the company will rank among the world’s top 10 precious metals producers and become one of the top five global silver producers, reinforcing its leadership in the North American mining sector and positioning it for sustainable long-term growth.