Barrick dual sale of NSW and PNG gold mine assets
- AUD1bn+ dual sale of NSW gold mine and a 50% stake in a PNG gold mine and simultaneous establishment of novel JV with Chinese buyer
- cross-border transaction involved parties based in PNG, Australia, Hong Kong, China and Canada; further complicated by PNG government’s 5% interest in the PNG mine
- DD and negotiation process was intense, involved lawyers from many practice areas; parties needed to agree on sale terms, JV arrangements, management structures, and ongoing offtake and royalty arrangements