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Barrick Gold putting its Golden Sunlight mine up for sale – BiV

Barrick Gold (TSX:ABX), the world’s largest producer of the precious metal, is reportedly ready to offload its aging Golden Sunlight mine in southwestern Montana as part of a now two-year-long move to shed non-core assets and pay back debts.

According to The Wall Street Journal, the gold giant has hired Canadian Imperial Bank of Commerce (CIBC) to help sell the mine, which it acquired after taking over Placer Dome in 2006.

The open-pit mine, located in Jefferson County, is one of Barrick’s smallest properties, producing 92,000 ounces of gold in 2013, according to the company’s website.

In January, the Toronto-based company sold its interest in the Kanowna operation in western Australia to Northern Start Resources for $75 million cash. The transaction followed the sale of its Plutonic mine also to Northern Star for $25 million in December.

Read more: http://www.biv.com/article/20140704/BIV0108/140709976/barrick-gold-putting-its-golden-sunlight-mine-up-for-sale

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