Barrick Announces Agreement to Divest Kanowna in Australia
Further Progress in Portfolio Optimization Process
All amounts expressed in US dollars unless otherwise indicated - PDF 187 KB
TORONTO, January 22, 2014 — Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (Barrick or the "company") today announced it has agreed to divest its interest in the Kanowna Belle and Kundana mine operations (collectively "Kanowna") in Western Australia to Northern Star Resources Ltd ("Northern Star") for total cash consideration of A$75 million, subject to certain closing adjustments. The transaction is expected to close in March, 2014.
Kanowna contained proven and probable reserves of 0.6 million ounces1, measured and indicated resources of 0.6 million ounces1 and inferred resources of 0.4 million ounces1 as at December 31, 2012. The mine produced about 225,000 ounces in 2013.
As part of its portfolio optimization program, over the past six months Barrick has announced divestitures of short life, high cost and non-core assets for total consideration of about $850 million, strengthening the overall quality of the company's portfolio.
UBS Securities Canada Inc. and BofA Merrill Lynch are acting as financial advisors to Barrick with respect to the transaction. Clayton Utz is acting as legal counsel to Barrick.
INVESTOR CONTACT:
Amy Schwalm
Vice President, Investor Relations
Telephone: +1 416 307-7422
Email: aschwalm@barrick.com
MEDIA CONTACT:
Andy Lloyd
Vice President, Communications
Telephone: +1 416 307-7414
Email: alloyd@barrick.com
1 For a breakdown of reserves and resources by category and additional information relating to reserves and resources, see pages 25-35 of Barrick's Form 40-F.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The word "expect" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold and certain other commodities; legislative, political or economic developments in jurisdictions in which the company does or may carry on business; diminishing quantities or grades of reserves; operating or technical difficulties in connection with mining or development activities; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; contests over title to properties; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; litigation; our ability to successfully complete announced divestitures, including as a result of a material adverse change; and employee relations. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.
The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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Barrick Gold Corp.
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PRODUCTEUR |
CODE : ABX.TO |
ISIN : CA0679011084 |
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Barrick Gold est une société de production minière d'or basée au Canada. Barrick Gold est productrice d'or, d'argent et de cuivre en USA, au Canada, au Chili, au Perou, en Australie, en Argentine, en Papouasie-Nouvelle-Guinee et en Tanzanie, en développement de projets d'argent, de cuivre, d'or, de palladium, de platine, de rhodium et de zinc au Chili, au Pakistan, au Perou, en Afrique Du Sud, en Papouasie-Nouvelle-Guinee, en Republique Dominicaine, en Tanzanie et in Russia, et détient divers projets d'exploration au Canada, en Australie, en Papouasie-Nouvelle-Guinee et en Tanzanie. Ses principaux projets en production sont BALD MOUNTAIN, CORTEZ HILLS, GOLDEN SUNLIGHT MINE et ROUND MOUNTAIN en USA, HEMLO, WILLIAMS UNDERGROUND, DAVID BELL, WILLIAMS, GOLDSTRIKE UNDERGROUND et WILLIAMS OPEN PIT au Canada, GRANNY SMITH MINE, KANOWNA BELLE, KALGOORLIE "SUPER PIT" JV, TURQUOISE RIDGE (GETCHELL), PLUTONIC, OSBORNE, DARLOT, LAWLERS, GOLDSTRIKE OPEN PIT, KUNDANA, RUBY HILL, COWAL, GOLDEN FEATHER et PIPELINE MINING COMPLEX en Australie, ZALDIVAR au Chili, PIERINA et LAGUNAS NORTE au Perou, BULYANHULU, NORTH MARA et TULAKAWA MINE en Tanzanie, VELADERO et MARIGOLD en Argentine et PORGERA et GOLDSTRIKE en Papouasie-Nouvelle-Guinee, ses principaux projets en développement sont DEE PROJECT et GOLD HILL au Perou, PUEBLO VIEJO en Republique Dominicaine, KAINANTU en Papouasie-Nouvelle-Guinee, BUZWAGI en Tanzanie, PASCUA LAMA au Chili, REKO DIQ au Pakistan, FEDOROVA et ROSSI in Russia et SEDIBELO en Afrique Du Sud et ses principaux projets en exploration sont PANDORA, HOMESTAKE MINE, MEIKLE GOLD MINE, LAC ELMER, MICHAUD, SOUTH ARTURO et COURAGEOUS LAKE au Canada, KIDSTON, GETCHELL, MOUNT PLEASANT GOLD OPERATIONS, MARYMIA, CLONCURRY COPPER GOLD JV, MT. CARULINA, FUSE WEST, RED HILL et LAVERTON JV en Australie, RIO FRIO S.A., LA ORTIGA, SANTA ROSA, SARITA AND SARITA SUR, REESE RIVER NEVADA et ICBM en Argentine, ANTABAMBA, DONLIN CREEK et PINSON au Perou, KABANGA, REN et KABANGA en Tanzanie et NEW BRITAIN ISLAND en Papouasie-Nouvelle-Guinee. Barrick Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 26,4 milliards CA$ (19,3 milliards US$, 18,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 31 décembre 2015 à 10,08 CA$, et son plus haut niveau récent le 24 avril 2024 à 22,63 CA$. Barrick Gold possède 1 165 779 968 actions en circulation. |