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Thursday, April 1, 2010

Barrick Gold (TSE:ABX), Kinross Gold (TSE:K) Close Cerro Casale Deal

Barrick, Kinross and Cerro Casale Project

Barrick Gold (TSE:ABX) and Kinross Gold (TSE:K) finished the deal where Barrick acquired another 25 percent interest in the Cerro Casale Project, located in Chile.

Terms of the deal were $454 million cash and Barrick ridding Kinross of a debt of $20million in relationshop to a production decision.

Barrick is now in charge of the project, having a 75 percent stake in Cerro Casale after the acquisition.

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