Barrick draws closer to Chinese government-owned Shandong Gold

Section:

Barrick and Shandong Gold Enter Cross-Shareholding Deal

From Zacks Investment Research, Chicago
via NASDAQ.com, New York
Wednesday, September 25, 2018

Barrick Gold Corp. has inked a mutual investment agreement with Shandong Gold Group Co. Ltd. The move strengthens the company's partnership with one of the leading mining companies in China.

Per the deal, Shandong Gold will acquire up to $300 million of Barrick's shares. Barrick will invest an equivalent amount in shares of Shandong Gold Mining Co. Ltd., which is controlled by Shandong Gold. The shares will be purchased in the open market. The companies, through the partnership, expect to leverage collective strengths to unlock long-term value for respective shareholders.

... Dispatch continues below ...



ADVERTISEMENT

Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/



In July 2018 Barrick and Shandong Gold entered into an enhanced strategic cooperation agreement. The latest cross shareholding deal builds on this agreement.

Notably, Barrick and Shandong Gold are partners in a 50-50 joint venture in the Argentina-based Veladero mine. Also, Shandong Gold is presently conducting an independent evaluation of Barrick's Lama project, which includes analysis of potential synergies between the Lama and the adjacently-located Veladero operation. Moreover, the companies have formed internal working groups that are sharing technical expertise and best practices, which are focused on best-in-class mining practices and innovation. ...

... For the remainder of the report:

https://www.nasdaq.com/article/barrick-shandong-gold-enter-into-cross-sh...

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Thursday-Sunday, November 1-4, 2018
http://neworleansconference.com/wp-content/uploads/2018/07/NOIC_2018_Pow...

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16