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Barrick sells Hemlo Gold mine for $1.1 billion
From canadianminingjournal.com
Barrick Mining has agreed to sell its last operating gold mine in Canada, marking a significant milestone as the company shifts its focus toward copper. The Hemlo Gold Mine in Ontario will be sold to Carcetti Capital Corp. for $875 million in cash and $50 million worth of Carcetti shares. An additional $165 million in contingent payments could be triggered depending on future gold prices. The sale is expected to close in the fourth quarter of 2025. The $1.1 billion transaction comes at a time when bullion prices are at all-time highs, allowing Barrick to realize substantial value from one of its legacy assets. ... (full story)
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