Barrick Gold expects agreements on asset sales before year-end

Thu Oct 29, 2015 10:24am EDT
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TORONTO Oct 29 (Reuters) - Barrick Gold, the world's biggest gold producer, said on Thursday that it has just begun a second round in the sales process for six U.S. gold assets that it wants to divest and expects to sign at least one agreement before year-end.

"It's a very competitive, robust process," said senior vice-president Kevin Thomson on a conference call with analysts. "Our expectation is to sign one or more binding agreements before the end of the year."

As part of its plan to cut at least $3 billion in debt this year, Barrick has said it will sell six of its U.S. gold mines and projects: Bald Mountain, Round Mountain, Spring Valley, Ruby Hill, Hilltop and Golden Sunlight. (Reporting by Susan Taylor; Editing by Bernadette Baum)