{"id":915334,"date":"2025-12-02T12:22:43","date_gmt":"2025-12-02T17:22:43","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/barrick-completes-tongon-transaction\/"},"modified":"2025-12-02T12:22:43","modified_gmt":"2025-12-02T17:22:43","slug":"barrick-completes-tongon-transaction","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/barrick-completes-tongon-transaction\/","title":{"rendered":"Barrick Completes Tongon Transaction"},"content":{"rendered":"<div class=\"mw_release\">\n<p>All amounts expressed in U.S. dollars<\/p>\n<p align=\"justify\">TORONTO, Dec.  02, 2025  (GLOBE NEWSWIRE) &#8212; Barrick Mining Corporation (NYSE:B)(TSX:ABX) (\u201cBarrick\u201d or the \u201cCompany\u201d) announced today that, further to its announcement on October 6, 2025, it has completed the divestiture of its interests in the Tongon gold mine and certain of its exploration properties in C\u00f4te d\u2019lvoire to the Atlantic Group for total consideration of up to $305 million.<\/p>\n<p align=\"justify\">The consideration is composed of cash consideration of $192 million, inclusive of a $23 million shareholder loan repayment within six months of closing, and contingent cash payments totalling up to $113 million payable based on the price of gold over 2.5 years and resource conversions over 5 years.<\/p>\n<p align=\"justify\">\n        <strong>About Barrick Mining Corporation<\/strong><br \/>\n        <br \/>Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry\u2014including six of the world\u2019s Tier One gold mines\u2014Barrick\u2019s operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth. Barrick shares trade on the New York Stock Exchange under the symbol \u2018B\u2019 and on the Toronto Stock Exchange under the symbol \u2018ABX\u2019.<\/p>\n<p align=\"justify\">\n        <strong>Investor Relations Contact<\/strong><br \/>\n        <br \/>Barrick Mining Corporation<br \/>Cleve Rueckert, +1 775 397 5443<br \/>cleveland.rueckert@barrick.com<\/p>\n<p align=\"justify\">\n        <strong>Media Contact<\/strong><br \/>\n        <br \/>Brunswick Group<br \/>Carole Cable, +44 (0) 7974 982 458<br \/>barrick@brunswickgroup.com<\/p>\n<p align=\"justify\">\n        <strong>Cautionary Statement on Forward-Looking Information<\/strong><br \/>\n        <br \/>Certain information contained in this press release constitutes \u201cforward-looking statements\u201d. All statements, other than statements of historical fact, are forward-looking statements. The words \u201cwould\u201d, \u201cexpected\u201d, \u201cwill\u201d and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the shareholder loan repayment and the contingent cash payment structure.<\/p>\n<p align=\"justify\">Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management\u2019s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions contained in this news release, which may prove to be incorrect, include, but are not limited to: (i) future gold prices; and (ii) future production and resource conversion levels at Tongon. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements, including the risk that the sale transaction will not be completed for any reason. Forward-looking statements are provided for the purpose of providing information about management\u2019s expectations and plans relating to the future. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in Barrick\u2019s most recent Form 40-F\/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities which contain a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick\u2019s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.<\/p>\n<p align=\"justify\">Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTU5NTMyMyM3Mjk5MTk1IzIwMDM5MTQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/MDgyOTc0NDYtZTQ2Ni00MGUwLTkwMWMtZWQ5M2RjN2U4NDYwLTEwMTU0ODctMjAyNS0xMi0wMi1lbg==\/tiny\/Barrick-Mining-Corporation.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>All amounts expressed in U.S. dollars TORONTO, Dec. 02, 2025 (GLOBE NEWSWIRE) &#8212; Barrick Mining Corporation (NYSE:B)(TSX:ABX) (\u201cBarrick\u201d or the \u201cCompany\u201d) announced today that, further to its announcement on October 6, 2025, it has completed the divestiture of its interests in the Tongon gold mine and certain of its exploration properties in C\u00f4te d\u2019lvoire to the Atlantic Group for total consideration of up to $305 million. The consideration is composed of cash consideration of $192 million, inclusive of a $23 million shareholder loan repayment within six months of closing, and contingent cash payments totalling up to $113 million payable based on the price of gold over 2.5 years and resource conversions over 5 years. About Barrick Mining Corporation Barrick is &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/barrick-completes-tongon-transaction\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Barrick Completes Tongon Transaction&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-915334","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Barrick Completes Tongon Transaction - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/barrick-completes-tongon-transaction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Barrick Completes Tongon Transaction - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"All amounts expressed in U.S. dollars TORONTO, Dec. 02, 2025 (GLOBE NEWSWIRE) &#8212; Barrick Mining Corporation (NYSE:B)(TSX:ABX) (\u201cBarrick\u201d or the \u201cCompany\u201d) announced today that, further to its announcement on October 6, 2025, it has completed the divestiture of its interests in the Tongon gold mine and certain of its exploration properties in C\u00f4te d\u2019lvoire to the Atlantic Group for total consideration of up to $305 million. The consideration is composed of cash consideration of $192 million, inclusive of a $23 million shareholder loan repayment within six months of closing, and contingent cash payments totalling up to $113 million payable based on the price of gold over 2.5 years and resource conversions over 5 years. 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