Barrick prepares to start sale of Massawa gold project

Barrick Gold is working with advisers to find a buyer for its Massawa gold project in Senegal, which it acquired as part of its purchase of Randgold Resources, people familiar with the matter said. The asset could fetch a value of about $500-million, the people said, asking not to be identified because the deliberations are private. The company aims to kick off a formal sale process shortly for part or all of its stake, the people said.