Towards this transaction, Barrick sold 79,268,800 shares of Shandong priced at HK$20.50 ($2.65) a share. Credit: Dennis Crabtree.

Canadian precious metals miner Barrick Gold has sold a partial stake in Chinese gold miner Shandong Gold Mining for $210m.

Barrick sold 79,268,800 shares of Shandong priced at HK$20.50 ($2.65) a share. It now holds a stake of about 2.05%.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Barrick bought the shares in the fourth quarter of 2018 at a cost basis of HK$10.50 a share.

In a press statement, Barrick said: “Barrick continues to hold 10,250,000 shares of Shandong Gold, representing a 2.05% interest in Shandong Gold’s Hong-Kong listed (H-class) shares, re-affirming its commitment to the strong existing long-term strategic partnership between the two companies.

“The shares were sold by an accelerated book building process and were placed primarily with new and existing institutional shareholders of Shandong Gold.”

Morgan Stanley served as Barrick’s Sole Placing Agent for the transaction.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Barrick and Shandong have been partners in the Veladero mine located in Argentina. In 2017, the Canadian miner sold a 50% interest in the mine to Shandong for $960m.

Last month, Barrick Gold’s Tanzania subsidiary Twiga Minerals received clearance to resume export of gold concentrate for its first shipments.

Earlier last month, the company reduced its 2020 production guidance following a conflict with the Papua New Guinea government regarding the Porgera mine last month, concerning the renewal of a 20-year special mining lease.