Barrick Mining completes Tongon transaction

Barrick Mining (B) completed the divestiture of its interests in the Tongon gold mine and certain of its exploration properties in Cote d’lvoire to the Atlantic Group for total consideration of up to $305M. The consideration is composed of cash consideration of $192M, inclusive of a $23M shareholder loan repayment within six months of closing, and contingent cash payments totalling up to $113M payable based on the price of gold over 2.5 years and resource conversions over 5 years.