Barnes (US:B) ZACKS·2025-11-27 15:41Core Insights - Barrick Mining Corporation successfully completed the divestiture of the Hemlo Gold Mine for a total consideration of $1.09 billion, which includes $875 million in cash, $50 million in shares, and a potential cash payment structure linked to gold prices of up to $165 million [1][4][7] - The company also divested the Alturas Project in Chile, receiving an upfront cash payment of $50 million and a 0.5% net smelter return royalty on gold and silver produced, which will terminate after 2 million ounces of production [2][7] - The proceeds from these divestitures are expected to strengthen Barrick's balance sheet and facilitate capital returns to shareholders [3][7] Financial Performance - The Hemlo mine produced 143,000 ounces of gold last year and was Barrick's last operating mine in Canada, a significant region for the company [4] - Barrick's shares have increased by 138.5% over the past year, outperforming the industry average rise of 110% [4] Strategic Outlook - With the closure of the Hemlo operations, Barrick aims to explore new opportunities in Canada through early-stage projects and exploration targets [4] - The divestment allows Barrick to focus on operating world-class gold and copper mines in the country [4]