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M&A / Property

Barrick closes Hemlo sale for $1.09-billion (U.S.)

By The Northwire Desk — AI Analysis Nov 26, 2025 · 20:58 ABX · 57.56 Barrick Mining Corporation
ABX · Price

Executive Summary

  • Barrick Mining Corp. has completed the divestiture of its Hemlo gold mine in Canada to Carcetti Capital Corp. (to be renamed Hemlo Mining Corp.).
  • The total transaction consideration is valued at up to $1.09 billion, structured across immediate cash, equity, and future production-linked payments.
  • The deal includes a significant deferred payment component tied to gold production and price, starting in January 2027.

Key Details

  • Transaction Structure: Divestiture of the Hemlo gold mine.
  • Buyer: Carcetti Capital Corp. (renaming to Hemlo Mining Corp.).
  • Total Consideration: Up to $1.09 billion (USD).
  • Closing Payments:
    • $875 million in cash received on closing.
    • $50 million in Hemlo Mining Corp. (HMC) shares received on closing.
  • Deferred/Contingent Payments:
    • Production and tiered gold-price-linked cash payment structure.
    • Maximum value of up to $165 million.
    • Payment term: Five years, starting in January 2027.
  • Acknowledgments: Barrick thanked the Biigtigong Nishnaabeg and Netmizaaggamig Nishnaabeg First Nations for their cooperation and support.

Notable Quotes

  • "The company would like to thank the Biigtigong Nishnaabeg and the Netmizaaggamig Nishnaabeg first nations for their co-operation and support related to the operation of Hemlo."
Read the original news release →

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