Equinox Gold agreed on 13 May 2026 to acquire Orla Mining in an all-share, at-market combination that the companies said would create a North American senior gold producer with an implied market value of $18.5bn.
Why Equinox Gold Corp. is buying Orla Mining Ltd.
The companies said the deal combines six producing mines, including Equinox's Greenstone and Valentine mines and Orla's Musselwhite mine, with growth projects in Canada, the US and Mexico, giving a path from about 1.1 million to more than 1.9 million ounces a year. They expected about $1.4bn of combined free cash flow in 2026.
Deal terms and financing
Orla shareholders receive one Equinox share and a nominal cash payment for each share, leaving them with about 33% of the combined company. Equinox chief executive Darren Hall stays in post and Orla's Jason Simpson becomes president; the group kept the Equinox Gold name.
Regulatory approvals and timing
The arrangement needed two-thirds approval from Orla holders, a simple majority of Equinox holders, court approval and regulatory clearances. The Supreme Court of British Columbia granted its final order on 28 July 2026, and the deal closed on or about 31 July.
Market context
No premium or purchase price was disclosed; Kitco valued the purchase of Orla at about $5.1bn, while the combined group's market value was put at $18.5bn.
