logo
Plus   Neg
Share
Email

Barrick Gold To Sell Its 50% Stake In Australian Gold Mines For $750 Mln

Barrick Gold Corp. (GOLD, ABX.TO) agreed to sell its 50 percent interest in Kalgoorlie Consolidated Gold Mines in Western Australia to Saracen Mineral Holdings Limited for a total consideration of US$750 million in cash.

The transaction is expected to be completed in the fourth quarter of 2019. Saracen is a gold company with two gold operations in the Kalgoorlie region of Western Australia.

Barrick noted that it will use proceeds from the sale to further strengthen the balance sheet, invest in future and support commitment to deliver returns to shareholders.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Polaris Industries Inc. is recalling certain Ranger and General Utility, as well as All-Terrain vehicles citing risks of crash, the U.S. Consumer Product Safety Commission said in a statement. The Medina, Minnesota-based company has called back about 26,730 units of Model Year 2019 - 2020 Ranger XP 1000 & Model Year 2020 General XP 1000 Utility vehicles. Gilead Sciences Inc. (GILD) said Friday that the European Commission has granted conditional marketing authorization for Veklury or remdesivir as a treatment for SARS-CoV-2 infection, the virus that causes COVID-19. FedEx is asking NFL team Washington Redskins to change its name for its racist connotations. The delivery services company, which is a major sponsor for the team, made the suggestion following increasing pressure from its investors amid the ongoing protests against racial injustice and inequality that arose from the killing of African-American George Floyd.
RELATED NEWS
Follow RTT