After pumping billions into the Indonesian mine for almost 25 years, Rio might be able to see a decent return as the country’s government plans to acquire the miner’s 40% stake in the coveted operation.
The Canadian precious metals producer announced a financing plan consisting of a $10-million bought deal private placement offering of four million flow-through common shares.
The non-brokered private placement gives Barrick about 15% of Reunion Gold Corporation (TSX-V:RGD), which has interests in four different projects in South America’s North Atlantic coast.