And Then There Were Three: A New Chinese Miner in Papua New Guinea
Loading...
Date
Authors
Smith, Graeme
Dinnen, Sinclair
Journal Title
Journal ISSN
Volume Title
Publisher
Canberra, ACT : Coral Bell School of Asia Pacific Affairs, College of Asia and the Pacific, The Australian National University
Abstract
Barrick Gold Corporation announced on 26 May 2015 that it had sold a 50 per cent stake in Barrick Niugini Limited to Zijin Mining Group, one of China’s ‘big four’ state-owned gold mining companies, for US$298 million in cash (BGC 26/5/2015). Barrick owns 95 per cent of the Porgera gold mine, Papua New Guinea (PNG), with the remaining five per cent in the hands of the Enga provincial government and landowners. The deal was part of a broader ‘strategic partnership’ between Barrick and Zijin, and is in line with Barrick’s new approach of deleveraging and reducing exposure to legacy assets outside North America (Hill and Campbell 2/12/2013).
Description
Keywords
Citation
Collections
Source
Book Title
Entity type
Access Statement
Open Access
License Rights
Restricted until
Downloads
File
Description