Barrick Mining closes Tongon interest sale

Executive Summary

• Barrick Mining Corp. has completed the divestiture of its interests in the Tongon gold mine and certain exploration properties in Ivory Coast to the Atlantic Group.
• The total transaction consideration is valued at up to $305 million, structured as a mix of immediate cash and contingent payments.
• The deal includes a $192 million cash component (including a $23 million shareholder loan repayment) and up to $113 million in contingent cash payments tied to gold prices and resource conversions.

Key Details

• Transaction Completion: Barrick completed the sale of its interests in the Tongon gold mine and related exploration properties in Ivory Coast.
• Buyer: Atlantic Group.
• Total Consideration: Up to $305 million USD.
• Cash Component: $192 million USD.
  • This amount includes the repayment of a $23 million shareholder loan within six months of closing.
• Contingent Payments: Up to $113 million USD.
  • Payable based on the price of gold over a 2.5-year period.
  • Payable based on resource conversions over a five-year period.
• Prior Announcement: The completion follows an initial announcement made on October 6, 2025.

Notable Quotes

• None provided in the text.