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Barrick inks Porgera partnership

FRESH from the sale of its Cowal operation to Evolution Mining on Monday, Barrick Gold will sell half of its 95% stake in the Porgera mine in Papua New Guinea to Chinese major Zijin Mining.

Kristie Batten
Barrick inks Porgera partnership

Zijin will acquire the stake for $US298 million ($A385 million), the proceeds of which Barrick will use to pay down debt. UBS said the sale price implied an asset value of around $600 million, which...

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