Barrick completes Tongon gold mine divestiture in Côte d’Ivoire

Barrick Mining has finalised the divestiture of its interests successful the Tongon golden mine, on with selected exploration assets successful Côte d’Ivoire, to Atlantic Group.

The transaction, archetypal disclosed connected 6 October 2025, carries a full information of up to $305m.

As portion of the agreed transaction, Barrick volition person a currency outgo of $192m from Atlantic Group.

This sum includes a $23m repayment of a shareholder loan, which is scheduled to beryllium paid wrong six months of the transaction’s closing.

In summation to the archetypal payment, Barrick is eligible for further contingent currency payments of up to $113m.

These further amounts beryllium connected the prevailing golden terms implicit a two-and-a-half-year play and connected the conversion of resources implicit a five-year clip frame.

TD Securities and Treadstone Resource Partners acted arsenic fiscal advisors to Barrick, with Lawson Lundell arsenic ineligible counsel.

The excavation entered accumulation successful 2010, with closure slated for 2020. However, Barrick extended the excavation beingness done exploration activities astir the mine.

Barrick aims to usage the proceeds from the merchantability to bolster fiscal lasting and heighten returns to its shareholders.

The institution is progressive successful mining, exploration and improvement activities, with operations and projects spanning 18 countries and 5 continents.

Atlantic has diversified interests successful agriculture, fiscal services and industry, with a footprint crossed 15 African countries.

With ownership present transferred to an Ivorian partner, Tongon begins a caller signifier of section management.

"Barrick completes Tongon golden excavation divestiture successful Côte d’Ivoire" was primitively created and published by Mining Technology, a GlobalData owned brand.

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