09:35 AM EDT, 10/06/2025 (MT Newswires) -- Barrick Mining ( B ) said Monday that it has agreed to sell its interest in the Tongon gold mine and certain of its exploration properties in Cote d'Ivoire to the Atlantic Group for up to $305 million.

The consideration consists of a cash consideration of $192 million, including a $23 million shareholder loan repayment within six months of closing, as well as cash payments of up to $113 million payable based on gold over 2.5 years and resource conversions over five years, Barrick said.

The deal is expected to close late this year, the company said.

Barrick said proceeds from the sale will be used to further strengthen its balance sheet.

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