Shanghai-listed Shandong Gold Mining has sealed a $960m deal for a 50 per cent stake in Barrick Gold’s Valedero gold mine in Argentina.
Barrick also said in a statement that the two companies would form a working group to explore the Pascua-Lama deposit in Argentina.
Reuters reported earlier that a deal between Shandong Gold and New York-listed Barrick was near completion, and that previous discussions between Barrick and another Chinese company, Zijin Mining Group, had fallen apart.
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