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

Rhea-AI Impact

(Moderate)

Rhea-AI Sentiment

(Neutral)

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

06/03/2025 - 06:02 PM

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