Barrick Mining (B) reached an agreement to sell the Alturas Project in Chile to a subsidiary of Boroo for an up-front cash payment of $50M. In addition, Barrick will be granted a 0.5% net smelter return royalty on gold and silver produced from the Project, which will terminate once 2M ounces of gold and gold-equivalent have been produced. Boroo may repurchase the royalty within four years from closing for $10M. Boroo is acquiring the Project through the acquisition of all of the shares of Compania Minera Salitrales SpA, the Barrick subsidiary that holds the Project. Proceeds from the sale will be used to further strengthen Barrick’s balance sheet, invest in our future and support our commitment to deliver returns to our shareholders. The transaction is expected to be completed within the third quarter of 2025 subject to customary closing conditions being satisfied.
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