Mar. 30, 2020 - The emergence of COVID-19 has sent a shock wave through the world economy, resulting in significant disruption in the financial markets, the shuttering of entire industries, and the lockdown of major cities across the globe. As a result, many national governments are applying every policy tool...
Barrick to Sell Interest in Australian Super Pit for $750 Million
Davies is acting for Barrick Gold Corporation (Barrick) in the sale of its 50% interest in Kalgoorlie Consolidated Gold Mines (KCGM) in Western Australia to Saracen Mineral Holdings Limited (Saracen) for total consideration of US$750 million in cash. KCGM, a 50-50 joint venture with Newmont Goldcorp Corp., owns the country's largest open pit gold mine, The Super Pit, as well as underground and processing works. Saracen is an ASX200-listed gold company with two gold operations in the Kalgoorlie region of Western Australia.
The sale of the non-operating interest in KCGM was achieved following a competitive sales process and represents Barrick’s first step in its plan to sharpen its focus and realize more than $1.5 billion from the disposal of its non-core assets by the end of 2020.
The transaction is expected to close in the fourth quarter of 2019.
Mar. 27, 2020 - Starting on March 18, 2020, the Canadian government has announced a series of emergency measures intended to help stabilize the economy in response to the COVID-19 pandemic. These include tax and economic measures aimed at providing financial support for individuals and businesses, and...