Barrick Gold Unveils Radical Restructuring, Shares Hit Decade High

Barrick CA06849F1080

In a sweeping strategic overhaul announced Wednesday, Canadian mining giant Barrick Gold has set in motion a plan to unlock shareholder value, culminating in a dramatic surge for its stock to levels not seen since 2012. The multifaceted strategy involves a potential multi-billion dollar public listing, significant asset sales, and the resolution of a protracted geopolitical dispute.

Concurrent with its broader strategic shift, Barrick has moved decisively to streamline its portfolio. On December 2, the company finalized two major divestments, generating substantial upfront cash.

• Hemlo Mine (Canada): Sold to Hemlo Mining Corp for up to $1.09 billion. The deal structure includes $875 million in cash, $50 million in Read more...