Barrick Mining Corporation has agreed to sell its Hemlo Gold Mine in Ontario, Canada to Carcetti Capital Corp. for up to $1.09 billion. The transaction includes $875 million in upfront cash, $50 million in equity, and up to $165 million in gold price-linked contingent payments starting in 2027. The buyer plans to rename itself Hemlo Mining Corp. and move to the TSXV’s main board. The new operator will be led by experienced management, including Robert Quartermain. The sale is part of Barrick’s plan to streamline its portfolio and strengthen its balance sheet. The deal is expected to close in Q4 2025.

Read more at Yahoo Finance: Barrick Hands Hemlo Gold Mine To New Owner In $1.09 Billion Deal