Cody Blanchard of Heritage Gold Rush displays some gold he found in the area from using his metal detector to detect gold on October 27, 2025 in El Dorado County, north of Sacramento, Calif. Photo by FREDERIC J. BROWN/AFP via Getty Images

Coeur Mining Inc. agreed to acquire New Gold Inc. for about US$7 billion in an all-stock deal that consolidates two midsize North American gold producers amid rising investor interest in the sector.

Coeur operates several mines in the U.S. and Mexico, while New Gold has two gold-producing sites in Canada. The merged company will produce 900,000 ounces of gold and 20 million ounces of silver next year.

The transaction will also create a firm with a larger balance sheet and higher cash flow, giving it more strategic flexibility. The addition of New

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