December 10, 2019 / 1:40 PM / 4 months ago

Barrick Gold to sell stake in Massawa project to Teranga for about $430 mln

Dec 10 (Reuters) - Canadian gold miner Barrick Gold Corp , said on Tuesday it would sell 90% stake in its Massawa project in Senegal to Teranga Gold Corporation for up to $430 million.

Under the terms of the deal, Barrick will have the right to nominate one Teranga director for as long as it retains at least a 10% equity interest in Teranga. (Reporting by Arunima Kumar in Bengaluru; Editing by Shinjini Ganguli)

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