Investing.com - Financial Markets Worldwide
⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

Barrick sells stakes in four assets for $720 million

Published 2015-11-12, 07:53 a/m
© Reuters. Barrick sells stakes in four assets for $720 million
KGC
-
GOLD
-

TORONTO, Nov 12 (Reuters) - Barrick Gold Corp ABX.TO said
on Thursday it has agreed to sell its stakes in four non-core
assets to two parties for a total of $720 million, as the
world's largest gold producer works to trim its debt load as
gold prices have weakened.
Toronto-based Barrick said it has agreed to sell its 50
percent interest in the Round Mountain mine and 100 percent of
the Bald Mountain mine to Kinross Gold Corp K.TO KGC.N for
$610 million in cash.
Separately, it has also reached an agreement to sell the
company's 70 percent interest in the Spring Valley project and
its 100 percent interest in the Ruby Hill mine to subsidiaries
of Waterton, a mining-focused private equity firm, for $110
million in cash.

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.