CHILE – Reports are circulating that Toronto-based Barrick Gold is considering the sale of the Valdivar copper mine 175 km southeast of Antofagasta. This is an open pit mine and heap leaching operation, located next to the Escondida copper mine.
Although the company has yet to say the mine is indeed for sale, analysts are touting a sale price of US$1.5 billion. And they believe there would be great interest in it from the Chinese and from private equity firms.
Barrick has been unloading “non-core” assets in recent months as it struggles with an debt load of US$11.65 billion.
Visit the Barrick website, Barrick.com, and watch for an official news announcement.