Core Viewpoint - Barrick Mining has agreed to sell its interests in the Tongon gold mine and certain exploration properties in Côte d'Ivoire to the Atlantic Group for up to $305 million, which includes a cash payment of $192 million [1][2] Group 1: Transaction Details - The transaction includes a $23 million shareholder loan repayment due within six months of closing [1] - The deal is expected to close in late 2025, pending regulatory approvals and customary closing conditions [2] - The proceeds from the sale will be used to strengthen Barrick's balance sheet and support shareholder returns [1] Group 2: Atlantic Group Profile - Atlantic Group is a privately held Pan-African conglomerate with diversified interests across financial services, agriculture, and industry, operating in 15 African countries [2] - The acquisition represents a significant investment for Atlantic in the mining sector within Côte d'Ivoire, a rapidly growing gold producer in West Africa [2] Group 3: Tongon Gold Mine Overview - Barrick originally planned to close the Tongon mine in 2020, but ongoing exploration success extended its operational life [3] - Since its first gold pour in 2010, Tongon has contributed over $2 billion to the Ivorian economy through taxes, infrastructure projects, salaries, and local supplier payments [3] - In 2024, the mine produced 148,000 ounces of gold and currently has proven and probable reserves of 620,000 ounces, along with measured and indicated resources of 700,000 ounces [3] Group 4: Market Reaction - Following the announcement of the sale, Barrick's shares rose by 1.35%, resulting in a market capitalization of $58.8 billion [4]