Canadian gold miner Barrick Gold Corp moved closer to its asset sales target on ...
FILE PHOTO: Workers stand next to an open pit at Barrick Gold Corp's Veladero gold mine in San Juan province, Argentina April 26, 2017. REUTERS/Marcos Brindicci
Barrick could also look to sell its Tongon mine in Ivory Coast and its Lumwana copper project in Zambia, analysts have said. Gold miners have notched transactions worth more than $30 billion this year as they seek to replace dwindling reserves and win back investors. The price also includes a contingent payment of up to $50 million based on the average gold price for the three years from when the deal closes, the companies said.
Teranga said it plans to combine the Massawa project with its flagship Sabodala gold project, creating a low-cost mid-tier producer with higher production and lower costs.
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