Barrick Hands Hemlo Gold Mine To New Owner In $1.09 Billion Deal

Barrick Mining Corporation (NYSE:B) announced Wednesday that it has struck a deal to divest its Hemlo Gold Mine in Ontario, Canada, in a transaction worth as much as $1.09 billion. The mine will be acquired by Carcetti Capital Corp., which plans to rename itself Hemlo Mining Corp. once the sale closes. The transaction includes upfront cash of $875 million, equity in the acquiring firm valued at $50 million, and additional gold price-linked contingent payments of up to $165 million beginning in 2027. Also ...