trending Market Intelligence /marketintelligence/en/news-insights/trending/OedGPJAccBqXbOqwb6RLjg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Barrick, Kinross sell combined 50% stake in Cerro Casale to Goldcorp

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Report Outlooks of Lithium and Cobalt

Essential Metals & Mining Insights July 2020


Barrick, Kinross sell combined 50% stake in Cerro Casale to Goldcorp

Barrick Gold Corp. and Kinross Gold Corp. completed the sale of a combined 50% stake in the Cerro Casale gold project in Chile to Goldcorp Inc., the companies said in separate June 9 releases.

The consideration comprised US$260 million in cash at closing, including US$20 million for the Quebrada Seca gold project, also in Chile, as well as a contingent payment of US$40 million following a positive construction decision for Cerro Casale.

Goldcorp also agreed to assume a US$20 million payment obligation under the existing Cerro Casale deal with Barrick, payable on the start of commercial production at the project.

Barrick and Kinross will each be entitled to a 1.25% royalty based on 25% of gross revenues from all metals sold at Cerro Casale and Quebrada Seca, with Kinross foregoing the first US$10 million.

Kinross expects to use the proceeds from the sale for its organic development projects and to further strengthen its balance sheet.

Barrick and Goldcorp formed a 50/50 joint venture to manage Cerro Casale.

Following the completion of Goldcorp's acquisition of Exeter Resource Corp., the joint venture will control 20,000 hectares of land in the Maricunga District, including Cerro Casale and Exeter's Caspiche gold project.