Kinross Gold and Barrick Gold deal for Cerro Casale Project
Kinross Gold (NYSE:KGC) has sold Barrick Gold (NYSE:ABX) 25 percent of its stake in the Cerro Casale project in Chile for about $474 million.
Terms of the deal were $20 million in contingent obligation from Barrick Gold, along with $474 million in cash.
Barrick now controls the project with a 75 percent stake, while Kinross now holds a 25 percent stake in the Cerro Casale project.
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