03:45 AM EDT, 09/11/2025 (MT Newswires) -- Barrick Mining ( B ) said late Wednesday that it has agreed to sell Hemlo Gold Mine in Canada to Carcetti Capital for up to $1.09 billion in cash and equity.

Carcetti, which is to be renamed Hemlo Mining upon closing, will pay $875 million in cash and $50 million in equity, the company said.

In addition Hemlo Mining will pay a production and tiered gold price-linked cash payment of up to $165 million starting in January 2027 for a five-year term, the company said.

Proceeds from the sale will be added to Barrick's balance sheet and support returns of capital to shareholders, the company said.