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Barrick Would Sell Zaldvidar Mine if Premium Price Was Offered
Mar. 17, 2015 03:22PM PST
Base Metals Investing
The Financial Post reported that although Barrick Gold (TSX:ABX) isn’t currently running a sale process for its Zaldivar mine in Chile, it would be open to selling the copper mine if it got a sweet enough offer.
The Financial Post reported that although Barrick Gold (TSX:ABX) isn’t currently running a sale process for its Zaldivar mine in Chile, it would be open to selling the copper mine if it got a sweet enough offer.
As quoted in the publication:
Over the past few weeks, there have been rumours in the market that Toronto-based Barrick could be planning to sell Zaldivar. That speculation intensified on Monday after the Financial Times said Zaldivar may be in play. It cited X2 Resources, run by mining kingpin Mick Davis, as a potential bidder for the Chilean mine.
A sale would help Barrick meet its debt reduction target of US$3 billion for 2015. In fact, it would take care of most of that target on its own.
However, no deal appears to be imminent. It is understood that Barrick is not running a sale process for Zaldivar right now. And in the current depressed copper market, experts said it would be very difficult for Barrick to fetch the high price it would want.
Click here to read the full article from the Financial Post.