03:36 AM EDT, 06/04/2025 (MT Newswires) -- Barrick Mining ( B ) said late Tuesday it has completed the divestiture of its 50% stake in Alaska's Donlin Gold Project to affiliates of Paulson Advisers and NovaGold Resources ( NG ) for $1 billion in cash.

NovaGold said it acquired an additional 10% in Donlin for $200 million, increasing its stake to 60%, while Paulson obtained a 40% stake for $800 million.

NovaGold and Paulson said they have entered into a new limited liability company agreement with equal governance rights over Donlin.

Donlin's owners said they will review its 2025 budget while "executing the 2025 drill program focused on the conversion and expansion of reserves and resources."