Ontario Teachers, an independent organization responsible for administering defined-benefit pensions, agreed to acquire a 46% stake in New Afton Mine, a Canadian gold and copper mine, from New Gold, a Canadian-focused intermediate gold mining company, for $300m. “We are delighted to partner with New Gold, a leading Canadian mining company, in this distinctive transaction. We gain access to a free cash flow interest from a top quality asset in a stable and well-established mining area, with the ability to convert to a JV interest in four years. Ontario Teachers' Natural Resources group has a global mandate to pursue investments that provide attractive returns and inflation protection through exposure to a basket of key commodities,” Dale Burgess, Ontario Teachers Senior Managing Director, Infrastructure & Natural Resources.