Announcement

Barrick Gold Completes Strategic Divestiture and Partnership with Shandong Gold

Davies acted for Barrick Gold Corporation in its transaction with Shandong Gold that included the following:

  • sale of a 50% interest in the Veladero gold mine for US$960 million;
  • the negotiation of a 50/50 joint venture arrangement in respect of the Veladero gold mine;
  • the negotiation of a strategic cooperation agreement to explore the joint development of the Pascua-Lama deposit located along the Chilean-Argentinean border; and
  • the evaluation of additional investment opportunities on the highly prospective El Indio Gold Belt on the border between Argentina and Chile.

The Davies team on this transaction included Melanie Shishler, Joshua Kuretzky and Steve Cutler (Mining and M&A), Geoffrey Turner (Tax), Sarah Powell (Environmental), Scott Hyman (Finance) and John Bodrug and Jim Dinning (Competition).

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