April 6, 2017 / 5:41 AM / 6 months ago

BRIEF-Barrick announces strategic cooperation agreement with Shandong Gold Group

April 6 (Reuters) - Barrick Gold Corp:

* Barrick announces strategic cooperation agreement with Shandong Gold

* Deal for $960 million

* It has entered into a strategic cooperation agreement with Shandong Gold Group Co., Ltd.

* Barrick and Shandong will form a working group to explore joint development of Pascua-Lama deposit

* Both companies will evaluate additional investment opportunities on El Indio gold belt on border of Argentina and Chile

* Barrick Gold Corp - Proceeds from transaction will be used to reduce debt and for investments in our business to grow free cash flow per share

* Shandong Gold Mining will acquire 50 percent of Barrick’s Veladero mine in San Juan Province, Argentina

* Shandong has financing commitments in place for full value of transaction

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