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Barrick Gold Corporation Ends Discussions with China National Gold Regarding Holding in African Barrick Gold

Barrick Gold Corporation (NYSE: ABX) today reported that it is no longer in discussions with China National Gold regarding its holding in African Barrick Gold plc. "These discussions were part of our ongoing efforts to identify opportunities to optimize our portfolio, however we are approaching this in a prudent and disciplined manner and will only proceed with opportunities that generate acceptable value for Barrick," said Jamie Sokalsky, President and Chief Executive Officer. "African Barrick Gold's assets hold significant potential, and we will continue to look for ways to best realize that value for our shareholders."Barrick continues to implement a disciplined capital allocation framework focused on maximizing returns and free cash flow. As part of this process, the company is evaluating its entire portfolio against these criteria.CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATIONCertain information contained in this press release, including any information as to our strategy or plans and other statements that express management's expectations, constitute "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive

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Posted-In: Earnings News Guidance Management Global

 

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