Barrick Gold completes divestiture of Kanowna in Australia Barrick Gold announced it has completed the divestiture of its interest in the Kanowna Belle and Kundana mine operations in Western Australia to Northern Star Resources for total cash consideration of A$75M, subject to certain closing adjustments. As part of its portfolio optimization program, since mid-2013 Barrick has announced divestitures of high cost and non-core assets for total consideration of almost $1B, strengthening the overall quality of the company's portfolio.
Zambia to increase royalties on open-pit mines, WSJ says The Finance Ministry of Zambia said it plans to more than triple royalties on open-pit copper mines, says the Wall Street Journal. Mining companies with open-pit mines in Zambia include Canada’s Barrick Gold (ABX) and First Quantum Minerals, added the Wall Street Journal. Reference Link