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Saracen Mineral Holdings to buy Barrick's Super Pit gold mine stake for $750 million

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Published : November 18th, 2019
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Category : GoldWire

Australia’s Saracen Mineral Holdings Ltd said on Monday it would buy Canadian-listed Barrick Gold Corp’s 50% stake in the Super Pit gold mine in Western Australia for $750 million.

The Super Pit is one of Australia’s largest gold mines with an average production of 660,000 ounces per annum at an all-in sustaining cost of about A$1,100 per ounce, according to Saracen.


Saracen will buy Barrick’s half of Kalgoorlie Consolidated Gold Mines Joint Venture, which owns and operates the Super Pit gold mine. U.S.-listed Newmont Goldcorp Corp, the world’s largest gold miner, retains the other 50% of the joint venture.

... For the remainder of the report:

https://www.reuters.com/article/kalgoorlie-su...cen-mineral/...

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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