03:19:55 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,165,574,071
Close 2017-02-08 C$ 25.75
Market Cap C$ 30,013,532,328
Recent Sedar Documents

Globe/wire say Barrick's Australian mine sale hits snag

2017-02-09 08:56 ET - In the News

The Globe and Mail reports in its Thursday edition that Barrick Gold's plan to sell its stake in the Kalgoorlie Super Pit mine to a Chinese bidder has stalled, with the buyer facing delays securing financing for the $1.3-billion (U.S.) deal. A Bloomberg dispatch to The Globe says that Minjar Gold, a unit of property developer Shandong Tyan Home, is also still seeking Chinese regulatory clearance for the purchase. Barrick is awaiting an outcome and remains interested in selling to Minjar, which outbid other suitors by a large margin. Barrick may still decide to re-enter talks with other buyers or keep its 50-per-cent share of the Western Australia asset, which is the country's largest open-pit gold mine. While Chinese companies' willingness to offer top-dollar prices helped fuel a $248-billion (U.S.) overseas acquisition spree last year, they have struggled at times to close transactions. Barrick's joint venture partner, Newmont Mining, the mine's operator, remains a viable bidder for the Barrick stake, chief executive officer Gary Goldberg said in December. Newmont has expressed its interest in participating in "any extension of Barrick's sale process," a spokesman said by e-mail.

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