- Barrick Gold (ABX +0.8%) reportedly is working with Credit Suisse on the possible sale of gold mines in Australia and Papua New Guinea.
- ABX said last week it plans to reduce net debt by at least $3B this year, partly by selling the Cowal mine in Australia’s New South Wales state and the Porgera operation in Papua New Guinea, as well as cutting staff at its head office.
- ABX could raise as much as $1.1B from selling the assets, TD Securities said last week, and added that it also could consider selling its 64% holding in Acacia Mining, formerly known as African Barrick Gold.