Category: Gold

Barrick Mining Sells Tongon Gold Mine to Atlantic Group in Deal Worth Up to $305 Million Gold miner Barrick Mining has finalized the sale of its interests in the Tongon gold mine and associated exploration properties in Côte d’Ivoire to the Atlantic Group, in a transaction valued at up to $305 million. The company announced on Tuesday that the consideration includes $192 million in cash, which incorporates a $23 million shareholder loan repayment due within six months of closing. An additional $113 million in contingent payments may be made over… Read More Here

Barrick Mining Weighs IPO of North American Gold Assets as Operational Challenges Mount Barrick Mining (TSX: ABX; NYSE: GOLD) is considering an initial public offering (IPO) of its North American gold assets as the company confronts rising costs and a series of operational setbacks. In a statement, the board said it has unanimously authorized management to explore the creation and listing of a new subsidiary that would house key North American operations. Barrick would retain control of the proposed company, while listing only a small minority interest. The unit would… Read More Here

Barrick Mining Restructures Leadership as Elliott Takes Stake and Acquisition Talk Rises Barrick Mining Corp. is undertaking a sweeping management overhaul as the Canadian gold producer faces mounting speculation about a potential acquisition or corporate breakup. According to an internal letter to employees from newly appointed chief executive officer Mark Hill—reviewed by Bloomberg—the company is implementing significant leadership changes and revising its regional operating model. Two senior managers and a top executive are departing as part of the restructuring. The move comes shortly after activist investor Elliott Investment Management LP… Read More Here

Barrick Gold Considers Breaking Up Company: Possible Split of North American and African–Asian Assets The board of Barrick Mining, one of the world’s largest gold producers, is exploring a plan to split the company into two separate entities—one focused on North America and the other on Africa and Asia—according to four sources familiar with internal discussions. The potential restructuring could also involve the sale of Barrick’s African portfolio and the Reko Diq copper-gold project in Pakistan, once financing arrangements for the latter are secured, the sources told Reuters. In Mali,… Read More Here