Changsha Drilling Machinery CO., LTD

Contact Us

Name: Perry Tan
Tel: 0086-731-84077805
Fax: 0086-731-84072772
E-mail: csdrillingtools@vip.126.com
E-mail: info@csdrillingtools.com
Add: 5# Panpan road, economic development zone, Changsha, Hunan, China. Zip 410100
Skype: csdrillingtools
QQ: 2522716948
Skype: csdrillingtools QQ: 2522716948 csdrillingtools@vip.126.com info@csdrillingtools.com

Link
Barrick sells Australian Plutonic mine to Northern Star
Barrick sells Australian Plutonic mine to Northern Star 

anada’s Barrick Gold (TSX, NYSE:ABX) has agreed to sell its Plutonic mine in Western Australia for $22 million (A$25m) to local company Northern Star Resources (ASX:NST) as the world’s largest producer of the metal continues to slash costs.

The sale, expected to close in February, will double Northern Star’s annual gold production to about 200,000 ounces a year, the Aussie miner said in a statement Monday.

The Australian company produces about 100,000 ounces a year from its existing Paulsens gold mine, also in the Pilbara.

Earlier this year Barrick traded three other Australian mines —Granny Smith, Lawlers and Darlot— to Gold Fields (NYSE:GFI) for $300 million. The company also sold its energy arm in July and last month raised $3 billion in a share sale to help the company reduce its debt. Like most gold producers, the nearly 29% drop in the metal price has hit Barrick’s earnings this year.

Northern Star shares closed up 4.5 cents, or 6.62%, at 72.5 cents.

News From