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Barrick Mining Corp. to Sell Hemlo Gold Mine to Carcetti Capital
Barrick's sale of its last Canadian gold mine to Carcetti includes $875 million cash and $50 million in shares, with additional contingent payments up to $165 million over five years.
- On September 10, 2025, Barrick Mining Corporation announced a deal to transfer ownership of its Hemlo gold mining operation in Canada to Carcetti Capital Corporation, with total consideration reaching up to $1.09 billion.
- Earlier this year, Barrick decided to sell the Hemlo Gold Mine as part of its efforts to focus on core operations and improve its financial position.
- The sale includes $875 million in cash, $50 million in Carcetti shares, and a potential $165 million cash payment linked to production and gold prices over five years.
- Jason Kosec, incoming CEO of Carcetti, said the acquisition establishes a foundation for a leading mid-tier Canadian gold producer focused on maximizing Hemlo’s value.
- The transaction is expected to close in the fourth quarter of 2025, with Barrick using proceeds to support capital returns and pursue growth in copper and gold mining.
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Barrick Mining Sells Hemlo Gold Mine In Deal Worth Up To $1.09 Billion
Barrick Mining (TSX: ABX) has entered into an arrangement to sell the Hemlo Gold Mine in Ontario. The deal will see the iconic Canadian mine sold to Carcetti Capital Corp (TSXV: CART.h), which will be renamed to Hemlo Mining Corp upon closing of the transaction. Carcetti Capital is to be helmed by Jason Kosec, the former president and CEO of Millennial Precious Metals Corp. Jonathan Awde, co-founder and former CEO of Dakota Gold and Gold Standar…
Barrick to sell Hemlo mine to Carcetti Capital for more than $1bn
Barrick Mining has signed an agreement to sell the Hemlo Gold Mine in Canada to Carcetti Capital Corporation for up to $1.09bn.The post Barrick to sell Hemlo mine to Carcetti Capital for more than $1bn appeared first on Mining Technology.
Coverage Details
Total News Sources19
Leaning Left9Leaning Right1Center3Last UpdatedBias Distribution69% Left
Bias Distribution
- 69% of the sources lean Left
69% Left
L 69%
C 23%
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