New Gold to Be Acquired by Coeur Mining in $7 Billion Deal

Paul, Weiss is advising New Gold Inc., a Canadian mining company, in the sale of all its outstanding shares to Coeur Mining, Inc., for a total transaction value of approximately $7 billion. The deal was unanimously recommended by a special committee of independent members of New Gold’s board of directors and unanimously approved by New Gold’s board.

The transaction will create a new, 100% North American senior mining company with a combined equity market capitalization of approximately $20 billion. The new company will include seven high-quality operations producing approximately 1.25 million gold equivalent ounces in 2026, including approximately 20 million ounces of silver and 900,000 ounces of gold. The transaction will be effected by way of a court-approved plan of arrangement, and is expected to close in the first half of 2026, subject to customary closing conditions.

The Paul, Weiss team is led by corporate partner Christopher Cummings and includes tax partner Matthew Jordan.