05:05:13 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,164,669,708
Close 2015-05-25 C$ 15.12
Market Cap C$ 17,609,805,985
Recent Sedar Documents

Van Sun/wire say Barrick looks for Cowal buyer

2015-05-25 06:58 ET - In the News

The Vancouver Sun reports in its Saturday edition Gold Fields Ltd. is among final bidders competing to acquire a $400-million Australian mine from Barrick Gold (all figures U.S.). A Bloomberg dispatch to The Sun says the Johannesburg-based producer and China's Zijin Mining submitted final offers for the Cowal gold mine in New South Wales. They are competing with local suitors Evolution Mining and Independence Group NL, which also submitted binding bids. Barrick said last month it has fielded interest for mines it is seeking to divest in Australia, Papua New Guinea and Chile. Barrick wants to reduce net debt by at least $3-billion this year. Zijin Mining has also expressed interest in Barrick's Porgera mine in PNG. The Cowal mine, which produced 268,000 ounces of gold last year, may be worth at least $400-million, Morgans Ltd. said on April 22. Barrick could raise as much as $1.1-billion from divesting Cowal and Porgera, TD Securities said in February. Gold Fields had all-in sustaining costs of about $1,143 an ounce in the three months to March. That compares with equivalent costs of $740 to $775 an ounce at Cowal. Its shares closed Friday at $15.11 (Canadian), down eight Canadian cents.

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