New Gold completed the acquisition of a 19.9% stake in New Afton Mine from Ontario Teachers’ for $300m.

New Gold, an intermediate gold mining company committed to responsible mining with a portfolio of two core producing assets in Canada, completed the acquisition of a 19.9% stake in New Afton Mine, a block caving operation located in British Columbia, specializing in the mining of copper and gold in copper concentrates, from Ontario Teachers’, a global investment firm specializing in a diverse range of investments and services, for $300m. “We are pleased with the favourable outcome of our strategic partnership with New Gold, a leading Canadian mining company. This partnership has yielded positive returns for Ontario Teachers' while providing significant support and financial flexibility to the Company throughout the investment period, enabling them to achieve commercial production at New Afton’s C-Zone ahead of schedule," Christopher Metrakos, Ontario Teachers’ Senior Managing Director.