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Watch BNN Bloomberg live.Orla Mining buys Ontario gold mine for up to $850M:Orla Mining says it has agreed to buy the Musselwhite gold mine in Ontario from Newmont
for up to $850 million. The purchase will allow the company to roughly double its current output. The move is the latest divestiture for Newmont, which has been selling assets to cut its debt ever since an expensive purchase of Newcrest Mining last year. Newmont’s shares have lost about one per cent of their value over the past 12 months, a time when the underlying gold price has rallied by more than 25 per cent.
. His successor will be Phil Witherington, who currently heads up the Asia unit. That part of the business has been the strongest performing unit at Manulife for much of the past several quarters, where the company’s stock has been on a tear. Witherington will work closely with Gori during the transition period and will join the board of the company next May.
in a move to restructure itself out of its cumbersome debt load. The company which targets discount flyers by offering rock bottom ticket prices with few amenities, has been trying to renegotiate its debt load for several months now. The airline has lost more than US$2.2 billion since the start of the pandemic and owes more than $9 billion. Earlier this year it struck a deal with rival JetBlue to be taken over, but a judge blocked that deal which led the company down the restructuring route.
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