Barrick completes sale of Hemlo Gold Mine to Carcetti Capital

Barrick Mining has completed the sale of the Hemlo Gold Mine in Canada to Carcetti Capital, which will rename the asset Hemlo Mining Corporation (HMC). The deal is valued at up to $1.09bn, comprising $875m in cash and $50m in HMC shares at closing, and up to $165m in production and gold price-linked payments from January 2027 over five years. The completion of the deal follows an agreement signed in September. At the time of the agreement, Barrick president and CEO Mark Bristow said: “The sale of Hemlo ...