Curated News
By: NewsRamp Editorial Staff
April 25, 2025
Barrick Gold Corporation Sells Stake in Donlin Gold Project for $1 Billion
TLDR
- Selling its 50% stake in the Donlin Gold Project for $1 billion, Barrick Gold Corporation gains a significant financial advantage.
- Barrick Gold Corporation announces the sale of its stake in the Donlin Gold Project to affiliates of NOVAGOLD Resources Inc. and Paulson Advisers LLC.
- The sale of the Donlin Gold Project for $1 billion contributes to economic growth and potential job creation in Southwest Alaska.
- The Donlin Gold Project in Southwest Alaska holds approximately 39 million gold ounces, making it one of the biggest undeveloped open-pit gold deposits today.
Impact - Why it Matters
This news matters as it signifies a significant transaction in the gold mining industry, showcasing the value of undeveloped gold deposits and the strategic moves of key players in the market. Investors and stakeholders in the mining sector should take note of the implications of such deals on the industry landscape and future developments.
Summary
Barrick Gold Corporation announced the sale of its 50% stake in the Donlin Gold Project for $1 billion in cash to affiliates of NOVAGOLD Resources Inc. and Paulson Advisers LLC. This project, located in Southwest Alaska, holds around 39 million gold ounces and is one of the largest undeveloped open-pit gold deposits today.
The sale highlights the increasing number of transactions involving gold-rich properties, impacting companies like Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM).
Source Statement
This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, Barrick Gold Corporation Sells Stake in Donlin Gold Project for $1 Billion
