Providing high-quality products and mining solutions for customers
Barik Completes Stripping at the Tongon Gold Mine in Côte d'Ivoire
所属分类：
Release time：2025-12-05
source：
author：
The total consideration for the transaction amounts to as much as 305 million U.S. dollars (425.21 million Canadian dollars).
Barrick Gold Corporation has completed the sale of its interest in the Tungsten gold mine, as well as certain exploration assets in Côte d'Ivoire, to Atlantic Group. The transaction, first disclosed on October 6, 2025, involves a total consideration of up to US$305 million. As part of the agreed-upon deal, Barrick will receive a cash payment of US$192 million from Atlantic Group. This amount includes repayment of a shareholder loan totaling US$23 million, which is scheduled to be paid within six months following completion of the transaction. In addition to the initial payment, Barrick is eligible to receive subsequent contingent cash payments of up to US$113 million. These additional amounts will depend on gold prices over a period of two and a half years and on resource conversion performance over a five-year period. TD Securities and Treadstone Resource Partners served as financial advisors to Barrick, while Lawson Lundell acted as its legal counsel.
The mine went into operation in 2010 and was originally scheduled to close in 2020. However, Barrick has extended the mine’s lifespan by conducting exploration activities around the mining site. Barrick plans to use the proceeds from the sale to strengthen its financial position and enhance shareholder returns. The company is engaged in mining, exploration, and development activities, with operations and projects spanning 18 countries across five continents. Atlantic holds diversified investments in agriculture, financial services, and industry, operating in 15 African countries. With the transfer of ownership to its Ivorian partner, Tongon has entered a new phase of local management.
Related Documents
RELATED INFORMATION
- All
- Product Management
- News
- Introduction
- Enterprise outlets
- FAQ
- Enterprise Video
- Enterprise Atlas
Enter your needs and search for more solutions!
E-mail: mgjx@gzxcmg.com
Telephone: +86 18785773080
Address: No. 2213, Building 2, Huaguoyuan International Financial Street, Nanming District, Guiyang City, Guizhou Province
Focus on us
Copyright © Guizhou Mige Machinery Equipment Co., Ltd 2025 (gzxcmg.com) All Rights Reserved. Website Construction:China Enterprise Power Guiyang
- All
- Product Management
- News
- Introduction
- Enterprise outlets
- FAQ
- Enterprise Video
- Enterprise Atlas
Key words: mining machinery |Mining Equipment