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Barrick Gold to sell 50% stake in Chilean copper mine for $1B

  • Barrick Gold (ABX) agrees to sell a 50% interest in its Zaldivar copper mine in Chile to Antofagasta (OTC:ANFGF) for ~$1B.
  • ABX has been trying to sell the mine as it looks to pay down at least $3B of debt by the end of this year.
  • The Zaldivar mine produced 222M lbs. of copper in 2014, while proven and probable copper reserves as of December 2014 were 5.56B lbs.

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