Barrick Completes Sale of 50% Interest in the Donlin Gold Project

Rhea-AI Summary

Barrick Mining Corporation (NYSE:B) has successfully completed the sale of its 50% stake in the Donlin Gold Project, located in Alaska, to Paulson Advisers LLC and NOVAGOLD Resources Inc. The transaction, valued at $1 billion in cash, marks a significant divestiture for Barrick. The Donlin Gold Project, which was previously jointly owned by Barrick and NOVAGOLD, represents one of North America's largest known undeveloped gold deposits.

Positive

• Substantial cash injection of $1 billion strengthening Barrick's balance sheet
• Strategic divestment allows Barrick to focus on core assets and operations
• Clean exit from the project with immediate cash realization

Negative

• Loss of exposure to one of North America's largest undeveloped gold deposits
• Reduction in Barrick's gold project portfolio and future production potential

News Market Reaction

+0.25%

1 alert

+0.25% News Effect

On the day this news was published, B gained 0.25%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

All amounts expressed in U.S. dollars

TORONTO, June 03, 2025 (GLOBE NEWSWIRE) -- Barrick Mining Corporation (NYSE:B) (TSX:ABX) announced today that it has completed the divestiture of its 50% interest in the Donlin Gold Project in Alaska to affiliates of Paulson Advisers LLC and NOVAGOLD Resources Inc. (NYSE American, TSX:NG) for $1 billion in cash.

Enquiries:
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com

Website: www.barrick.com

FAQ

How much did Barrick sell its Donlin Gold Project stake for?

Barrick sold its 50% stake in the Donlin Gold Project for $1 billion in cash

Who purchased Barrick's stake in the Donlin Gold Project?

Affiliates of Paulson Advisers LLC and NOVAGOLD Resources Inc. purchased Barrick's 50% stake

What percentage of the Donlin Gold Project did Barrick sell?

Barrick sold its entire 50% interest in the Donlin Gold Project

Where is the Donlin Gold Project located?

The Donlin Gold Project is located in Alaska

What impact will the sale have on Barrick's balance sheet?

The sale will provide Barrick with a $1 billion cash injection, strengthening its balance sheet