Barrick Completes Sale of 50% Interest in Donlin Gold Project for $1 Billion

Barrick Mining Corporation announced the successful completion of the divestiture of its 50% interest in the Donlin Gold Project, situated in Alaska. The project stake was acquired by affiliates of Paulson Advisers LLC and NOVAGOLD Resources Inc. for a cash consideration of $1 billion. This move reflects Barrick's strategic focus on portfolio optimization and capital allocation. The transaction marks a significant financial milestone for Barrick, as well as a promising development for Paulson and NOVAGOLD in their endeavors to advance and develop the gold mining asset. The Donlin Gold Project, which is known for its substantial gold deposit potential, stands as a major opportunity within the gold mining sector. The sale aligns with Barrick's strategic objectives to streamline operations and direct resources towards its core assets. For Paulson Advisers and NOVAGOLD, this acquisition emphasizes their commitment to expanding their gold mining portfolio in a high-potential region.