Barrick to sell three Australian gold mines
Barrick Gold, the world’s largest gold producer, has put three Western Australian mines up for sale in order to alleviate some of its current $11.6 billion debt burden, reported Reuters on Monday.
Merrill Lych and UBS will advise on the sale of Barrick’s Darlot, Granny Smith, and Lawlers mines, which produced a combined 452 000 oz of gold at $768/oz in 2012.
Barrick has run into recent trouble at its $8.5 billion Pascua Lama project in Chile as a court ordered a halt in production earlier this month.
Two Chinese firms, Zijin Mining and Shandong Gold, have been identified as potential buyers.
Sources: Reuters; The Globe and Mail
More News
US excludes steel, aluminum, gold from reciprocal tariffs
The White House said steel and aluminum imports won’t be subject to reciprocal tariffs in a move that will provide at least some relief to domestic buyers already incurring 25% duties.
April 02, 2025 | 05:04 pm
Dirtiest US coal-fired power plant applies for EPA exemption
The Colstrip plant, located in eastern Montana, has the highest emission rate of fine particulate matter out of any coal-burning plant in the nation.
April 02, 2025 | 02:55 pm
{{ commodity.name }}
{{ post.title }}
{{ post.excerpt }}
{{ post.date }}
Comments