Barrick Said to Seek Buyer for Ivory Coast Mine as Bullion Soars

Bloomberg12-11

(Bloomberg) -- Barrick Gold Corp. is seeking buyers for its Tongon gold mine in the Ivory Coast in an effort to sell the aging operation when bullion prices are surging. The world’s No. 2 gold miner ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2490175028?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/16w3Z_uL3VS3PFPU4_OnXQ--~B/aD0xMzM0O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/83d1d06bbe8517c174a4b8ba751ee362","is_english":true,"pubTime":"2024-12-11 03:11","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2490175028","market":"us","top_or_hot":-1,"title":"Barrick Said to Seek Buyer for Ivory Coast Mine as Bullion Soars","media":"Bloomberg","content":"<div>\n<p>(Bloomberg) -- Barrick Gold Corp. is seeking buyers for its Tongon gold mine in the Ivory Coast in an effort to sell the aging operation when bullion prices are surging.\nThe world’s No. 2 gold miner ...</p>\n\n<a href=\"https://finance.yahoo.com/news/barrick-said-seek-buyer-ivory-191103840.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Barrick Said to Seek Buyer for Ivory Coast Mine as Bullion Soars</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBarrick Said to Seek Buyer for Ivory Coast Mine as Bullion Soars\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-11 03:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/barrick-said-seek-buyer-ivory-191103840.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Barrick Gold Corp. is seeking buyers for its Tongon gold mine in the Ivory Coast in an effort to sell the aging operation when bullion prices are surging.\nThe world’s No. 2 gold miner ...</p>\n\n<a href=\"https://finance.yahoo.com/news/barrick-said-seek-buyer-ivory-191103840.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0788108826.HKD","symbol_name":"BGF WORLD GOLD \"A2\" (HKDHGD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/barrick-said-seek-buyer-ivory-191103840.html","article_id":"2490175028","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/16w3Z_uL3VS3PFPU4_OnXQ--~B/aD0xMzM0O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/83d1d06bbe8517c174a4b8ba751ee362"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490175028","pubTimestamp":1733857863,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- Barrick Gold Corp. is seeking buyers for its Tongon gold mine in the Ivory Coast in an effort to sell the aging operation when bullion prices are surging.The world’s No. 2 gold miner started working with Toronto-Dominion Bank to identify buyers and solicit bids for the mine in late November, according to people familiar with the matter, who asked not to be named discussing confidential matters.Barrick plans to stop production at the 24-year-old open-pit mine by 2027 given its depleting resources, according to company filings. The mine produced 204,000 ounces last year — about 5% of Barrick’s overall gold output for the year. Barrick has a nearly 90% stake in Tongon, with the Ivory Coast government and local investors holding the rest of the operation, 682 kilometers  north of the port city Abidjan.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0788108826.HKD":"BGF WORLD GOLD \"A2\" (HKDHGD) ACC","LU1023059493.AUD":"Blackrock World Mining A2 AUD-H","LU0724618789.USD":"BGF WORLD GOLD \"A4\" (USD) INC","LU1223083913.SGD":"Schroder ISF Global Gold A Acc SGD-H","LU0055631609.USD":"贝莱德世界黄金基金A2","LU1223082196.USD":"施罗德环球黄金A Acc","LU0345781412.USD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (USD) INC","BK4017":"黄金","LU0075056555.USD":"贝莱德世界矿业基金A2","LU0345780281.USD":"NINETY ONE GSF GLOBAL GOLD \"A\"  ACC","LU0345780950.USD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (USD) ACC","LU0368265764.SGD":"Blackrock World Gold Fund A2 SGD-H","NEM":"纽曼矿业","BK4532":"文艺复兴科技持仓","LU0496367417.USD":"富兰克林黄金和贵金属A（acc）","BK4570":"地缘局势概念股","GOLD":"巴里克黄金","LU0330918003.SGD":"Blackrock World Mining A2 SGD-H","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","NEM.AU":"Newmont Corp","LU0498741890.SGD":"FTIF - Franklin Gold and Precious Metals A (acc) SGD","LU0498741114.HKD":"FRANKLIN GOLD & PRECIOUS METALS \"A\" (HKD) ACC","SG9999001143.SGD":"United Gold and General A Acc SGD","LU0345780521.USD":"NINETY ONE GSF GLOBAL GOLD \"A\" (USD) INC","BK4588":"碎股","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","LU0630314457.HKD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (HKD) ACC"},"translate_title":"随着金价飙升，巴里克表示将为科特迪瓦矿山寻找买家","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NEM.AU":0.9,"NEM":0.9,"GOLD":0.9},"content_text":"(Bloomberg) -- Barrick Gold Corp. is seeking buyers for its Tongon gold mine in the Ivory Coast in an effort to sell the aging operation when bullion prices are surging.\nThe world’s No. 2 gold miner started working with Toronto-Dominion Bank to identify buyers and solicit bids for the mine in late November, according to people familiar with the matter, who asked not to be named discussing confidential matters.\nBarrick and TD both declined to comment.\nBarrick plans to stop production at the 24-year-old open-pit mine by 2027 given its depleting resources, according to company filings. The mine produced 204,000 ounces last year — about 5% of Barrick’s overall gold output for the year. Barrick has a nearly 90% stake in Tongon, with the Ivory Coast government and local investors holding the rest of the operation, 682 kilometers (424 miles) north of the port city Abidjan.\nPrice Rally\nGold producers have seen higher valuations for mines this year as bullion prices hit successive record highs bolstered by central-bank buying, geopolitical uncertainty and interest-rate cuts. Barrick’s rival, Newmont Corp., has brought in $3.9 billion from selling mines in 2024 — almost double its initial divestment target. Newmont’s Akyem mine in Africa drew interest from several Chinese firms and was ultimately sold to Zijin Mining Group Co. for $1 billion. \nBarrick previously considered selling Tongon in 2019, without avail. The company had signaled it was weighing options for the mature operation during an investor event in November.\n“Although we have continued extending Tongon’s life, it has become increasingly non-core to Barrick, and therefore we are currently looking at strategic options for this asset,” Sebastiaan Bock, Barrick’s chief operating officer for Africa and the Middle East, said during the event. Disposing of the asset “will increase the quality of the portfolio and it will reduce the cost profile by more than $50 per ounce.”  \n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2490175028"}