Barrick Gold’s near billion-dollar deal with Shandong Gold Mining represents a rich premium for the Canadian miner, while making good on a long-promised plan to forge deep, long-lasting partnerships with China.
The sale of a 50% stake in Veladero, one of Barrick’s top five gold mines, for $960-million is its biggest partnership deal with a Chinese miner, eclipsing a $298-million joint venture in 2015 with Zijin Mining Group for a mine in Papua New Guinea.
