- Business
- New Gold Inc. is a Canadian-focused intermediate gold mining company engaged in the exploration, development, and operation of mineral properties primarily for gold, silver, and copper deposits. The company operates two core producing assets: the Rainy River gold-silver mine located in Northwestern Ontario, featuring open-pit and underground mining with processing via crushing, grinding, gravity concentration, flotation, and whole-ore leaching to produce doré; and the New Afton gold-copper mine in South-Central British Columbia, utilizing underground block caving and long-hole open stoping methods with flotation circuits to yield gold-copper concentrates. Founded in 1980 and headquartered in Toronto, Ontario, New Gold targets global precious metals markets through doré bars, concentrates, and by-product sales while employing hedging strategies to manage commodity price volatility. In recent developments, the company consolidated its interest in New Afton to 100% through an agreement with Ontario Teachers' Pension Plan announced in early 2025, completed a $400 million senior notes offering at 6.875% due 2032 to refinance 2027 notes, extended its revolving credit facility to 2029 with a $100 million accordion feature, filed technical reports in February 2025 outlining strong production profiles and declining costs at both mines, and advanced K-Zone exploration at New Afton with the first drill bay operational alongside growth studies for multiple zones; additionally, in November 2025, Coeur Mining announced an all-stock acquisition of New Gold valued at approximately $7 billion, under which New Gold shareholders receive 0.4959 Coeur shares per New Gold share.