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The Donlin gold project. Credit: Barrick Gold Corporation

Barrick to divest Donlin Gold project for $1bn

Canadian miner Barrick Gold has signed a definitive agreement with the affiliates of Paulson Advisers and NOVAGOLD Resources to sell its 50% interest in the Donlin gold project in Alaska for $1bn (C$1.38bn) in cash. The transaction also includes an option for NOVAGOLD to acquire outstanding debt related to the project for $90m, if purchased before the deal closes, or $100m if purchased within 18 months of closing. The Donlin project is a proposed operation with an estimated 39 million ounces of gold reserves.

Alkane and Mandalay to merge to create diversified mining company

Australia's Alkane Resources has signed a definitive agreement with Canadian miner Mandalay Resources for a “merger of equals” to create a diversified gold and antimony producer. The estimated market capitalisation of the merged company is C$898m ($647.8m) and it has a combined forecast production of 160,000 gold-equivalent ounces in 2025, potentially growing to more than 180,000oz in 2026.

Genmin signs MoU with Sinohydro for Baniaka iron ore project in Gabon

African iron ore producer Genmin has signed a binding memorandum of understanding (MoU) with Sinohydro for the development of its Baniaka iron ore project in Gabon. The agreement facilitates the project’s advancement through engineering, procurement, and construction proposals and funding procurement assistance. The MoU is valid for three years but may be terminated early under specific conditions.

Source: Pharmaceutical Technology

FPX Nickel extends exploration partnership with JOGMEC

Canada-based nickel mining company FPX Nickel has extended its Global Generative Exploration Alliance with the Japan Organization for Metals and Energy Security (JOGMEC), turning it into an open-ended joint venture. The partnership will continue to focus on identifying and acquiring high-quality awaruite nickel properties globally. The Generative Alliance has established a budget of C$1.5bn from April 2025 to March 2026.

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