Barrick Gold close to to goal of scrapping USD 3 billion from its debt thanks to sale of new shares
Saturday, 14 November 2015 18:12
The gold operator Barrick Gold announced on Thursday a new round of sale of assets, including to companies Kinross and Waterton Global Resources Management, for a total amount of USD 720 million.
With USD 610 million, Kinross has the biggest share of this new round, by buying out all Bald Mountain assets in Nevada and the 50% shareholding Barrick Gold has jn Round Mountain.
These new sales come in addition of others which took place in previous quarters for a global amount of over USD 1.7 billion. The company had announced them, with the target of mobilising enough resources to reduce its debt of almost USD 3 billion. A goal which it seems on the brink of fulfilling.
Analysts believe that these ongoing sales in the gold sector are proof that the future do not appear to be improving, even though the price of gold saw a slight increase these past days. Barrick Gold, like other gold operators, seems under pressure from the international situation and would not have sold its assets, even if they are not the most important ones.
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