Orla Mining Ltd (ORLA.US) shares dropped more than 6% during early Friday trading sessions. The decline followed Newmont Mining's (NEM.US) announcement that it had completed the divestiture of its complete shareholding in Orla Mining Ltd through the Toronto Stock Exchange at $10.14 per share (CAD $14.00), generating total proceeds of $439 million (CAD $605 million).

Prior to this transaction, Newmont Mining held 43,245,294 common shares in Orla Mining Ltd, representing 13.3% of the company's issued and outstanding common shares.

Commenting on the divestiture, Newmont Mining CEO Tom Palmer stated: "We value the close relationship we have built with Orla since our initial investment. From the development of the Camino Rojo project to Orla's acquisition of Newmont Mining's Musselwhite project earlier this year, we have been pleased to participate in Orla's early-stage growth."