Barnes (US:B) Globenewswire·2025-10-06 13:13Core Viewpoint - Barrick Mining Corporation has agreed to sell its interests in the Tongon gold mine and certain exploration properties in Côte d'Ivoire to Atlantic Group for total consideration of up to $305 million [1][2]. Financial Summary - The total consideration includes a cash payment of $192 million, which consists of a $23 million shareholder loan repayment due within six months of closing, and contingent cash payments of up to $113 million based on gold prices over 2.5 years and resource conversions over 5 years [2]. Company Background - Atlantic Group, founded 48 years ago by an Ivorian entrepreneur, is a leading multisectoral private group with diversified interests across financial services, agriculture, and industry, operating in 15 African countries [3][7]. - Barrick Mining Corporation is a global mining, exploration, and development company with a significant portfolio of gold and copper assets, including six Tier One gold mines, and operates in 18 countries [6]. Operational Impact - The Tongon gold mine has generated over $2 billion for the Ivorian economy since its first gold pour in 2010, contributing to taxes, infrastructure development, salaries, and payments to local suppliers [4]. - The acquisition is expected to enhance local stewardship of the mine while maintaining its operational excellence and community benefits [3][4]. Transaction Details - The transaction is anticipated to be completed in late 2025, pending customary closing conditions, including approval from the Government of Côte d'Ivoire [4].