Equinox Gold (TSX:EQX) and Orla Mining (TSX:OLA) have completed their proposed merger, creating North America’s newest senior gold producer with annual output of more than one million ounces.
The companies first agreed on the US$18.5 billion ($26.3 billion) business combination in May, with shareholders of both companies approving the deal earlier this month.
The combined company, which is approximately two-thirds owned by former Equinox shareholders, expects to produce 1.1 million ounces of gold in 2026. Production is forecast to grow to 1.9 million ounces through the development of its North American asset base.
“The combined company will produce 1.1 million ounces of gold in 2026 from a North American portfolio and enables a funded, tier-one platform with the capacity to deliver a 70% growth trajectory to 1.9 million ounces,” Equinox CEO Darren Hall says.
Hall is expected to retire at the end of October, with former Orla chief executive Jason Simpson, who was appointed Equinox president following the merger, succeeding him as CEO.
The board will also undergo a leadership transition, with Equinox founder and long-serving chair Ross Beaty retiring. Former Orla chair Chuck Jeannes will take over the role.
“The completion of this combination marks the beginning of an exciting new chapter for Equinox Gold. Together, we have created North America’s new senior gold producer with over 60% of production coming from three long-life mines in Canada,” Jeannes says.
The combined group’s Canadian operations — Greenstone, Valentine, and Musselwhite — are expected to produce 685,000 ounces of gold annually, making Equinox Canada’s second-largest gold producer behind only Agnico Eagle Mines (TSX:AEM).
Equinox Gold is a Canadian mining company with a strong foundation of high-quality, long-life gold operations in Canada and across the Americas, and a pipeline of development and expansion projects.
Orla Mining has three wholly owned material projects, comprising two operating mines and one development project.
Write to Jackson Chen at Mining.com.au
Image: Equinox Gold
