Barrick is cashing in on gold’s record rally with asset sales
For Barrick Gold, one of the world’s top bullion producers, the precious metal’s blistering rally to record prices is looking like a great opportunity to raise some cash as the company looks to pivot harder into copper mining. First, the company announced on Tuesday that it’s exiting an Alaskan mining project by selling its 50% stake to billionaire John Paulson and Novagold Resources for $1-billion. Meanwhile, Barrick has also signaled more deals on the horizon as it seeks buyers for mines in Africa and North America.
For Barrick Gold, one of the world’s top bullion producers, the precious metal’s blistering rally to record prices is looking like a great opportunity to raise some cash as the company looks to pivot harder into copper mining.
First, the company announced on Tuesday that it’s exiting an Alaskan mining project by selling its 50% stake to billionaire John Paulson and Novagold Resources for $1-billion. Meanwhile, Barrick has also signaled more deals on the horizon as it seeks buyers for mines in Africa and North America.
