Kinross Gold Acquires Barrick’s Bald Mountain Gold Mine for $610 Million, Nevada
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Kinross Gold Corporation has acquired 100 percent of the Bald Mountain gold mine, which includes a large associated land package, and 50 percent of the Round Mountain gold mine in Nevada from Barrick Gold Corporation for $610 million in cash under the previously announced definitive asset purchase agreement.
“The addition of these quality assets adds to our production profile, delivers free cash flow and is expected to lower costs while preserving our balance sheet strength. The acquisition expands our existing portfolio in Nevada, one of the best mining jurisdictions in the world, and provides clear upside potential,” said J. Paul Rollinson, president and chief executive officer of Kinross.
The Bald Mountain property encompasses a 600 sq km prospective land package along the southern extension of the Carlin trend, the most prolific gold producing region in the United States. Kinross will leverage Barrick’s area expertise to explore and develop 40 percent of the land package outside the current core mining area as part of a 50/50 exploration joint venture.
About Kinross Gold
Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Chile, Ghana, Mauritania, and Russia.
To stop by Kinross Gold’s website, CLICK HERE
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