Equinox Gold Agrees to Buy Orla Mining in $5.1 Billion Deal

Equinox Gold Corp. agreed to acquire Canada’s Orla Mining Ltd. for about $5.1 billion, the latest in a wave of gold-mining deals as producers seek to boost output and reserves after a massive price rally in bullion over the past year.

Equinox will pay almost entirely in stock, the companies said Wednesday. The transaction will give Equinox two operating mines in Mexico and Canada, plus development projects in Nevada and Panama. The merged company’s production to 1.1 million ounces a year, with the potential to grow to more than 1.9 million ounces.