Barrick Completes Tongon Transaction
Rhea-AI Summary
B (Barrick) completed the divestiture of its interests in the Tongon gold mine and certain exploration properties in Côte d’Ivoire to Atlantic Group for total consideration of up to $305 million.
The consideration comprises $192 million in cash (which includes a $23 million shareholder loan repayment payable within six months of closing) and contingent cash payments up to $113 million tied to the price of gold over 2.5 years and resource conversions over 5 years.
Positive
- Total consideration of $305 million
- Immediate cash proceeds of $192 million at closing
- Additional upside of up to $113 million via contingent payments
Negative
- Contingent $113 million depends on gold price and resource conversions
- Includes a $23 million shareholder loan repayment within six months
News Market Reaction
On the day this news was published, B declined 3.07%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Key gold peers showed same-day price changes of 3.34% (WPM), 3.04% (FNV), 4.56% (AU), 3.48% (AEM) and 4.5% (KGC), indicating notable moves across related names even though the momentum scanner did not flag a coordinated sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 08 | Drug coverage update | Positive | +2.2% | Leqembi added to China commercial insurance innovative drug list. |
| Dec 08 | Clinical trial clearance | Positive | +2.2% | FDA cleared global Phase IIb trial of CS1 in PAH. |
| Dec 03 | Product launch | Neutral | -1.3% | Launch of ETQ Reliance Go EQMS for manufacturers. |
| Dec 02 | Asset divestiture | Neutral | -3.1% | Completion of Tongon mine and exploration property divestiture. |
| Dec 01 | IPO evaluation | Neutral | +2.4% | Board authorized evaluation of IPO for North American gold assets. |
Across recent news, price reactions have generally moved in the same direction as the apparent tone of announcements, with no clear pattern of divergence.
Recent news linked to ticker B spans several sectors and themes. Regulatory and clinical milestones, such as FDA clearance for a Phase IIb trial and inclusion of Leqembi on China’s innovative drug list, saw modest positive moves around 2.22%. For Barrick specifically, evaluation of an IPO of North American gold assets coincided with a 2.39% gain, while completion of the Tongon divestiture for up to $305 million saw a -3.07% move, highlighting varied market responses to strategic updates.
Market Pulse Summary
This announcement detailed Barrick’s completed divestiture of the Tongon gold mine and exploration properties for total consideration of up to $305 million, including $192 million in cash and potential contingent payments of up to $113 million. The company entered the news trading above its 200-day MA, with sector peers also showing notable gains. Investors may track future disclosures on how the proceeds are allocated and whether contingent payment triggers are met over the 2.5- and 5-year periods.
Key Terms
contingent cash payments financial
AI-generated analysis. Not financial advice.
All amounts expressed in U.S. dollars
TORONTO, Dec. 02, 2025 (GLOBE NEWSWIRE) -- Barrick Mining Corporation (NYSE:B)(TSX:ABX) (“Barrick” or the “Company”) announced today that, further to its announcement on October 6, 2025, it has completed the divestiture of its interests in the Tongon gold mine and certain of its exploration properties in Côte d’lvoire to the Atlantic Group for total consideration of up to
The consideration is composed of cash consideration of
About Barrick Mining Corporation
Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry—including six of the world’s Tier One gold mines—Barrick’s operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth. Barrick shares trade on the New York Stock Exchange under the symbol ‘B’ and on the Toronto Stock Exchange under the symbol ‘ABX’.
Investor Relations Contact
Barrick Mining Corporation
Cleve Rueckert, +1 775 397 5443
cleveland.rueckert@barrick.com
Media Contact
Brunswick Group
Carole Cable, +44 (0) 7974 982 458
barrick@brunswickgroup.com
Cautionary Statement on Forward-Looking Information
Certain information contained in this press release constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “would”, “expected”, “will” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the shareholder loan repayment and the contingent cash payment structure.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions contained in this news release, which may prove to be incorrect, include, but are not limited to: (i) future gold prices; and (ii) future production and resource conversion levels at Tongon. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements, including the risk that the sale transaction will not be completed for any reason. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in Barrick’s most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities which contain a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
FAQ
What did Barrick (NYSE:B) announce on December 2, 2025 about Tongon?
How much cash did Barrick receive at closing for the Tongon transaction (NYSE:B)?
What contingent payments are included in Barrick's Tongon sale (NYSE:B)?
When is the $23 million shareholder loan repayment due in the Barrick Tongon deal (NYSE:B)?
Does the Barrick Tongon sale include exploration properties (NYSE:B)?
What is the timeline for contingent payments in Barrick's Tongon transaction (NYSE:B)?
