Barrick Mining sells African interests to Atlantic
Barrick Mining said on Monday it will sell its interests in the Tongon gold mine and certain of its exploration properties in Ivory Coast to the Atlantic Group for up to $305m.
The Canadian miner has been shedding smaller, less profitable assets after its 2019 merger with Africa-focused Randgold Resources.
The deal includes a cash payment of $192m, which covers a $23m shareholder loan repayment to be made within six months of closing, with the proceeds helping Barrick strengthen its balance sheet, the company said.
The transaction is expected to be completed in late 2025.
Reuters
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