Barrick sells stakes in four assets for $720 million: Reuters

Barrick Gold Corp (ABX.TO) said on Thursday it has agreed to sell its stakes in four non-core assets to two parties for a total of $720 million, as the world’s largest gold producer works to trim its debt load as gold prices have weakened.

Toronto-based Barrick said it has agreed to sell its 50 percent interest in the Round Mountain mine and 100 percent of the Bald Mountain mine to Kinross Gold Corp (K.TO) (KGC.N) for $610 million in cash.

Separately, it has also reached an agreement to sell the company’s 70 percent interest in the Spring Valley project and its 100 percent interest in the Ruby Hill mine to subsidiaries of Waterton, a mining-focused private equity firm, for $110 million in cash.