Barrick Gold said to seek buyers for its last mine in Canada, Bloomberg News reports

NovaGold Resources

22/04/2025 19:14

April 22 (Reuters) - Canada's Barrick Gold ABX.TO is looking to sell its last mine in the country in a push to capitalize on record gold prices and a renewed interest in North American mining operations, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Earlier on Tuesday, the gold miner said it will exit the Donlin gold Project in Alaska by selling its 50% stake to billionaire John Paulson and NovaGold Resources NG.TO for up to $1.1 billion.

Barrick began a process in April to sell its Hemlo gold mine in Ontario, Canada, and retained Canadian Imperial Bank of Commerce to find buyers and solicit bids, the report said.

Barrick Gold and Canadian Imperial Bank of Commerce did not immediately respond to Reuters' requests for comment.

 (Reporting by Tanay Dhumal in Bengaluru; Editing by Alan Barona)

 ((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal))