The one-time special dividend, worth $470 million, will be given to Newmont’s shareholders only if its friendly takeover of Canada’s Goldcorp is approved.
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The Montana, U.S.-based Sunlight mine has been approaching the end of its operational life in recent years and its remaining gold reserves are nearly depleted.
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Barrick said that although the ruling was not helpful because it just delays a decision on the future of its Pascua-Lama project, the company remains focused on resolving the legal and environmental issues around the project.
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Following its $6.1B merger with Randgold in January, Barrick set a bullish guidance for 2019, forecasting a double-digit jump in output.
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Under the deal, Barrick will take a 61.5% stake in the joint venture consisting of the duo’s Nevada mines, with Newmont holding the remainder.
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Australia’s largest gold producer is paying $806.5 million for a 70% stake in Imperial Metals’ Red Chris copper and gold mine, located in British Columbia.
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The country’s No.1 gold producer says the “brief” spill affecting the operation has already been halted and blamed vandals for destroying or stealing sections of the pipe it uses to move waste water.
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Chief executive Mark Bristow will discuss a potential JV with rival Newmont only if his company runs the operation.
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The US mining giant fired back with the terms of a deal that seeks merging operations in Nevada.
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Barrick forecasts over $7 billion in pre-tax savings over 20 years, based on net present value — $4.7 billion of which will come from Nevada.
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