Barrick to divest stake in Tongon gold mine and exploration properties to Atlantic Group

Barrick Mining Corporation has signed an agreement to divest its stake in the Tongon gold mine, along with some of its exploration properties in Côte d’Ivoire, to Atlantic Group for up to $305m (C$425.56m). The consideration includes a cash payment of $192m, which encompasses a $23m shareholder loan repayment to be made within six months of closing. Additionally, there are contingent cash payments of up to $113m, payable based on gold prices over 2.5 years and resource conversions over five years. The ...