Barrick Sells Stake In Morila Gold Mine

TORONTO - Barrick Gold Corporation and AngloGold Ashanti Limited have agreed to sell their 80% interest in the Morila gold mine in Mali to Mali Lithium Limited.  The sale is subject to certain conditions, including the acknowledgement of the transaction by the state of Mali, which holds the remaining 20% of the Morila gold mine.

The decision of the current shareholders to sell their stakes in Morila, which it operates, offered the potential for the mine to continue under a new ownership structure which would bring access to additional resources and a different approach to how the infrastructure is used to extend the life of operations. This would allow Barrick to focus on its strategy of discovering, developing, owning and operating Tier One assets. The parties are targeting the closing of the deal before end of October 2020.