Barrick Gold to sell Zambian copper mine in H2 2019
2019-05-16 15:44:05 [Print]
According to three sources with knowledge of the matter, Barrick Gold Corp, the world's second largest bullion miner, is preparing its Zambian copper mine for sale in H2 2019, looking to target Chinese buyers.
Fresh from two major deals in recent months, Barrick has said it plans to shed USD1.5 billion of less productive mines, which have little expansion potential. It included Lumwana among the possible sales, as a relatively low-grade copper mine whose margins could be materially affected by Zambia's new mining code and import duty.
Fresh from two major deals in recent months, Barrick has said it plans to shed USD1.5 billion of less productive mines, which have little expansion potential. It included Lumwana among the possible sales, as a relatively low-grade copper mine whose margins could be materially affected by Zambia's new mining code and import duty.
Copper Conc. 20%min Delivered China
Unit:RMB/mt Cu
China copper concentrate producers' sales to production ratio statistics by province by month
Unit: %
