Barrick Gold has completed the sale of its 70% interest in the Spring Valley project and its 100% interest in the Ruby Hill mine to Waterton Precious Metals Fund II Cayman subsidiaries for $110m.

The sale is part of agreements signed by the company in November 2015 to sell its non-core assets in Nevada, US for $720m in a bid to reduce debt by $3bn this year.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Barrick Gold president Kelvin Dushnisky said: "As a result of the non-core asset sales we have executed this year, our portfolio is now much more focused on core mines that generate free cash-flow through the metal price cycle.

"We are also on track to meet our stated debt reduction target of $3bn for 2015."

"We are also on track to meet our stated debt reduction target of $3bn for 2015, which, when completed, will represent a 23% reduction in total debt since the start of the year."

Barrick also signed agreement to sell its 50% interest in the Round Mountain mine and 100% of the Bald Mountain mine to Kinross Gold for $610m.

Barrick Gold expects to complete the sale of these properties by mid-January 2016.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Since the beginning of this year, the company announced asset sales, joint ventures, and partnerships worth $3.2bn.

Mining Technology Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Mining Technology Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now