16:27:25 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,165,574,071
Close 2017-03-16 C$ 25.21
Market Cap C$ 29,384,122,330
Recent Sedar Documents

FP/wire help get word out that Barrick mine's for sale

2017-03-17 09:26 ET - In the News

The Financial Post reports in its Friday edition that Barrick Gold is exploring options for its Lagunas Norte mine in Peru, including the sale of part or all of the asset. A Reuters dispatch to the Post says that Barrick, which is working with TD Bank, may prefer to hold 50 per cent of Lagunas Norte, but it is unclear if the company wanted to keep control of the open-pit mine as operator. The mine could be worth about $1.4-billion (U.S.). A Credit Suisse analyst put the mine's net asset value at $711-million (U.S.). Mining companies in South America, global miners and private equity firms have reviewed the asset, said the sources, who were not authorized to speak publicly on the matter. One of the sources characterized the effort as a "soft process" that was not a top priority for Barrick. Lagunas Norte is one of Barrick's five core mines, operating more than 4,000 metres above sea level in the Andes Mountains, with 4.2 million ounces of proven and probable gold reserves at the end of 2016. Barrick president Kelvin Dushnisky told Reuters last October that more partnership deals could be expected from the company as they allow miners to combine capital, technical expertise and other abilities.

© 2024 Canjex Publishing Ltd. All rights reserved.