Barrick Announces Agreement to Divest Cowal Mine
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Barrick Gold (ABX) to Divest Cowal Mine in $550M Deal
May 26, 2015 6:40 AM EDTBarrick Gold (NYSE: ABX) announced it has reached an agreement to sell 100 percent of the Cowal mine in New South Wales, Australia to Evolution Mining for US$550 million in cash on closing.
"The sale of Cowal is consistent with the strategy we have outlined to create long-term value for our owners, making a significant contribution to our debt... More
Barrick Gold (ABX), Zijin Mining Enter Strategic Partnership; Zijin Will Acquire 50% of Barrick Niugini
May 26, 2015 6:39 AM EDTBarrick Gold (NYSE: ABX) announced that it has formed a strategic partnership with leading Chinese mining company Zijin Mining Group Co., Ltd ("Zijin").
As a first step, Zijin will acquire 50 percent of Barrick (Niugini) Limited ("BNL"), the company which owns 95 percent of and manages the Porgera Joint Venture gold mine in Papua New Guinea. In addition, Barrick and Zijin have signed a long-term strategic cooperation agreement which outlines the intent of both companies to collaborate on future projects and joint investments, leveraging the strengths of each company.
"A twenty-first century mining... More
