Coeur Mining and New Gold finalize merger to form North American precious metals company
At Costmine, we use our Mining Intelligence platform to monitor major developments shaping the global mining sector, from large-scale mergers to asset-level growth strategies.
Coeur Mining and New Gold have entered into a definitive agreement that will see Coeur Mining acquire all outstanding shares of New Gold, forming a new senior precious metals company focused entirely on North American operations. The combined company will operate seven active mines across the United States, Canada, and Mexico, with projected 2026 production of 900,000 ounces of gold, 20 million ounces of silver, and 100 million pounds of copper.
The transaction is expected to more than double Coeur’s free cash flow and EBITDA by 2026, reaching an estimated $2 billion and $3 billion respectively. It also adds two established Canadian assets, New Afton and Rainy River, to Coeur’s existing portfolio while enhancing margins, improving cost structure, and accelerating investment in exploration and long-term growth projects.
The new company will rank among the largest publicly traded precious metals producers in North America, with over 80 percent of its revenue expected to come from the United States and Canada. A stronger financial position, increased trading liquidity, and the pursuit of a TSX listing are expected to further boost visibility and access to capital markets. The combined team also plans to build on operational strengths by advancing organic growth opportunities across the portfolio.
Mining Intelligence tracks the full lifecycle of transactions like this, from initial announcements and shareholder approval to post-close integration and portfolio strategy. As more companies seek to strengthen jurisdictional focus and maximize long-term asset value, M&A activity like this offers a deeper look at how the industry continues to evolve.
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