Herbert Smith Freehills is pleased to have advised Barrick Gold Corporation on the sale of its 50% interest in Kalgoorlie Consolidated Gold Mines (KCGM) for US$750 million (A$1.1 billion) to Saracen Mineral Holdings Limited. KCGM owns and operates the Super Pit gold mine in Kalgoorlie-Boulder, Western Australia.
The deal was led by Herbert Smith Freehills partners Tony Damian and Clayton James, with assistance from senior associates Li-Lian Yeo, David Rowan, Jen Harding, Charlotte Cameron, and Laura Walsh, and solicitors John McQueen and Alex Thams.
Tony Damian said, “We are delighted to have advised Barrick on the successful completion of the sale of its 50% interest in this iconic gold mine”.
Clayton James said, “It was fantastic to work with the Barrick team again. The successful completion of the sale also demonstrates the depth and experience of the Herbert Smith Freehills team”.
Herbert Smith Freehills previously advised Barrick Gold Corporation on the sale of its Cowal gold mine in New South Wales to Evolution Mining Limited and on the sale of a 50% interest in Barrick (Niugini) Limited, which is the 95% owner and manager of the Porgera Joint Venture gold mine in Papua New Guinea, to Zijin Mining Group Co., Ltd.