[miningmx.com] – BARRICK Gold said it would sell assets in an effort to reduce debt by $3bn this year including its Cowal mine in Australia and a joint venture in Papua New Guinea, said Reuters.
Barrick also has a majority stake in Acacia Mining, formerly African Barrick, which operates in Tanzania as well as control of Lumwana, a copper/gold mine currently in mothballs following an increase in royalties imposed by the Zambian government.
The Canadian gold miner produced a fourth quarter net loss of $2.85bn as it added billions of dollars in impairments to the long list of write downs it has already made, said Reuters.
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