China's Zijin in lead to buy Barrick’s Ivory Coast Tongon gold mine: sources

China's Zijin in lead to buy Barrick’s Ivory Coast Tongon gold mine: sources

China's Zijin Mining is the front-runner to acquire Barrick Mining's Tongon gold mine in northern Ivory Coast for up to $500m (R8.81bn), two sources close to the matter told Reuters.

Zijin Emerges as Lead Bidder for Barrick’s Ivory Coast Tongon Mine

Zijin Mining is reportedly leading the race to acquire Barrick Gold’s Tongon gold mine in northern Côte d’Ivoire, with bids said to be approaching US$500M. The move comes as Barrick looks to offload the asset, which represents around 5% of its total gold output, as part of a broader portfolio strategy aimed at focusing on higher-margin, longer-life operations across Africa and the Middle East. The Tongon mine produced approximately 148,000oz of …

Zijn leads race for Barrick mine, Tongon

CHINA’S Zijin Mining has emerged as the leading contender to purchase Barrick Mining’s Tongon gold operation in northern Ivory Coast, said Reuters citing sources familiar. Zijin could bid up to $500m, the newswire said in a report on Thursday. The Canadian mining giant, ranked as the world’s third-largest gold producer, is restructuring its portfolio to concentrate on high-margin, long-life assets whilst expanding its copper focus and strategic …