This archive report was first published on 9 August 2019.
Published on August 9, 2019, by REUTERS.
Barrick Gold Corporation is divesting its assets, with the Tongon gold mine in the Ivory Coast being the latest to be put up for sale. The company is working with Bank of Nova Scotia to identify potential buyers.
The Tongon mine, located north of Abidjan, is expected to produce 250,000 to 270,000 ounces of gold in 2019. This is part of Barrick's broader strategy to sell non-core assets, including the Massawa gold project in Senegal and the Lumwana copper mine in Zambia.
According to reports, Lumwana is expected to produce 210 million to 240 million pounds of copper in 2019, while the Massawa feasibility project is being progressed towards a final development decision.
Barrick and Scotiabank were not immediately available for comment.
