https://www.miningweekly.com
Copper|Exploration|Gold|Resources|Infrastructure
Copper|Exploration|Gold|Resources|Infrastructure
copper|exploration|gold|resources|infrastructure

Barrick to sell noncore Peru mine

Lagunas Norte, in Peru

Lagunas Norte, in Peru

17th February 2021

By: Creamer Media Reporter

     

Font size: - +

In line with its policy of selling noncore assets to focus its portfolio on tier-one assets, bullion major Barrick Gold on Tuesday announced an agreement to sell its Lagunas Norte mine, in Peru, to private investment firm Boroo for $81-million and the assumption of closure liabilities.

Boroo will take over the Lagunas Norte closure liability of $226-million, which is backed by an existing $173-million bonding obligation.

Barrick president and CEO Mark Bristow said the proposed acquisition would benefit the mine’s stakeholders in Peru by giving Boroo the opportunity to extend its life by accessing satellite resources and adapting the infrastructure.

“The Latin American region remains an important destination for Barrick, and the company will keep a team in Peru to continue to develop its portfolio of exploration assets and to pursue opportunities to find and operate world-class gold and/or copper mines in that country.”

The transaction is subject to closing conditions.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.121 0.163s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: