Barrick Gold Corporation

Barrick Gold Corporation

April 26, 2012 08:59 ET

Barrick Announces Sale of its Shareholding in Highland Gold Mining

TORONTO, ONTARIO--(Marketwire - April 26, 2012) -

All amounts expressed in US dollars unless otherwise indicated

Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) ("Barrick") today announced the sale of its entire shareholding of approximately 20.4% in Highland Gold Mining Limited ("Highland"), the AIM-quoted Russian gold producer, consisting of approximately 66.2 million ordinary shares at a price of 120 pence per share for total gross proceeds of approximately $130 million. The shares were placed primarily with new and existing institutional shareholders of Highland.

On February 13, 2012 Highland announced that Barrick had determined upon review that its shareholding in Highland was non-core to its business operations and strategy and that it intended to divest its shareholding in Highland in an orderly process which would deliver proper value to Barrick, while supporting the interests and aims of Highland and its shareholders.

HSBC Bank plc ("HSBC") acted as Barrick's sole financial advisor and joint bookrunner in the sale of its entire shareholding in Highland with Numis Securities Limited ("Numis") and Troika Dialog (UK) Limited ("Troika") acting as joint bookrunners.

Barrick's vision is to be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.

This announcement is being issued by Barrick Gold Corporation and is the sole responsibility of Barrick Gold Corporation. Each of HSBC, Numis and Troika is acting for Barrick Gold Corporation in connection with the sale of its entire shareholding in Highland Gold Mining Limited and will not be responsible to anyone other than Barrick Gold Corporation for providing the protections offered to its clients nor for providing advice in relation to the above transaction.

Contact Information

  • INVESTOR CONTACT: Greg Panagos
    Senior Vice President
    Investor Relations and Communications
    (416) 309-2943

    MEDIA CONTACT: Andy Lloyd
    Senior Manager, Communications
    (416) 307-7414