- Associated Press - Wednesday, January 13, 2016

ELKO, Nev. (AP) - Barrick Gold Corp. has completed the sale of two large gold mines in northeast Nevada - Round Mountain and Bald Mountain - to Kinross Gold Corp. for $610 million.

Officials for the two Canadian-based companies also have agreed to form an exploration venture covering a large land package on the Bald Mountain property, all of which previously was owned by Barrick Gold. Kinross already owned 50 percent of Round Mountain.

The companies announced plans for the deal in November. It was completed on Monday.

Barrick officials said it will help cut debt, strengthen the company’s balance sheet and focus on core mines. Barrick still owns the Cortez Hills Mine, Goldstrike Mine and 75 percent of Turquoise Ridge Joint Venture Mine in Nevada.

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide