The run in the price of gold evidently has majors interested in selling off assets. After Newmont’s massive divestiture program which finished up last week, Barrick Gold (TSX: ABX) has now announced that they are selling off a major asset.
But this isn’t an operating mine like the majority of Newmont’s sales. Instead, it’s an absolutely massive development project that has been in the pipeline for decades, which requires billions of dollars in initial capex just to get the project off the ground.
And that’s if they can get the approvals required to actually get it into production.
Lets dive in.
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