IB2015/48 And Then There Were Three: A New Chinese Miner in Papua New Guinea

Graeme Smith; Sinclair Dinnen

IB2015/48 And Then There Were Three: A New Chinese Miner in Papua New Guinea

Research output: Other contribution

Abstract

Barrick Gold Corporation announced on 26 May 2015 that it had sold a 50 per cent stake in Barrick Niugini Limited to Zijin Mining Group, one of Chinas big four state-owned gold mining companies, for US$298 million in cash (BGC 26/5/2015). Barrick owns 95 per cent of the Porgera gold mine, Papua New Guinea (PNG), with the remaining five per cent in the hands of the Enga provincial government and landowners. The deal was part of a broader strategic partnership between Barrick and Zijin, and is in line with Barricks new approach of deleveraging and reducing exposure to legacy assets outside North America (Hill and Campbell 2/12/2013).

Original language	English
Publisher	State, Society and Governance in Melanesia
Publication status	Published - 2015

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title = "IB2015/48 And Then There Were Three: A New Chinese Miner in Papua New Guinea",

abstract = "Barrick Gold Corporation announced on 26 May 2015 that it had sold a 50 per cent stake in Barrick Niugini Limited to Zijin Mining Group, one of Chinas big four state-owned gold mining companies, for US$298 million in cash (BGC 26/5/2015). Barrick owns 95 per cent of the Porgera gold mine, Papua New Guinea (PNG), with the remaining five per cent in the hands of the Enga provincial government and landowners. The deal was part of a broader strategic partnership between Barrick and Zijin, and is in line with Barricks new approach of deleveraging and reducing exposure to legacy assets outside North America (Hill and Campbell 2/12/2013).",

author = "Graeme Smith and Sinclair Dinnen",

year = "2015",

language = "English",

publisher = "State, Society and Governance in Melanesia",

type = "Other",

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T1 - IB2015/48 And Then There Were Three: A New Chinese Miner in Papua New Guinea

AU - Smith, Graeme

AU - Dinnen, Sinclair

PY - 2015

Y1 - 2015

N2 - Barrick Gold Corporation announced on 26 May 2015 that it had sold a 50 per cent stake in Barrick Niugini Limited to Zijin Mining Group, one of Chinas big four state-owned gold mining companies, for US$298 million in cash (BGC 26/5/2015). Barrick owns 95 per cent of the Porgera gold mine, Papua New Guinea (PNG), with the remaining five per cent in the hands of the Enga provincial government and landowners. The deal was part of a broader strategic partnership between Barrick and Zijin, and is in line with Barricks new approach of deleveraging and reducing exposure to legacy assets outside North America (Hill and Campbell 2/12/2013).

AB - Barrick Gold Corporation announced on 26 May 2015 that it had sold a 50 per cent stake in Barrick Niugini Limited to Zijin Mining Group, one of Chinas big four state-owned gold mining companies, for US$298 million in cash (BGC 26/5/2015). Barrick owns 95 per cent of the Porgera gold mine, Papua New Guinea (PNG), with the remaining five per cent in the hands of the Enga provincial government and landowners. The deal was part of a broader strategic partnership between Barrick and Zijin, and is in line with Barricks new approach of deleveraging and reducing exposure to legacy assets outside North America (Hill and Campbell 2/12/2013).

M3 - Other contribution

PB - State, Society and Governance in Melanesia

ER -

IB2015/48 And Then There Were Three: A New Chinese Miner in Papua New Guinea

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