Canadian Mining Journal


AMENABLE ACQUISITION – Barrick offers $773M for Arizona Star

TORONTO - BARRICK GOLD has made a friendly cash offer for all of ARIZONA STAR's outstanding shares for Cdn$18 each....

TORONTO – BARRICK GOLD has made a friendly cash offer for all of ARIZONA STAR’s outstanding shares for Cdn$18 each. The deal is worth Cdn$773 million on a fully diluted basis. The directors of Arizona Star have unanimously recommended the bid.

Arizona Star owns a 51% interest in the Cerro Casale copper-gold deposit in Chile. The remainder is held by KINROSS GOLD.

Cerro Casale is an attractive, long-life asset that we look forward to adding to our unrivalled project pipeline, said Greg Wilkins, Barrick president and CEO. Cerro Casale will be a very complementary addition with potential synergies for our asset base in Chile where we have been operating for well over a decade. We are pleased to have reached a friendly agreement in the current circumstances, which are conducive to the project moving forward.

Barrick’s assets in the region include the Zaldivar copper mine in Chile, the Pascua-Lama gold-silver project on the Chile-Argentina border, the Veladero gold mine in Argentina, and the Lagunas Norte and Pierina gold mines in Peru.

Technical reports on the Cerro Casale project are posted at

Print this page

Related Posts

Have your say:

Your email address will not be published. Required fields are marked *