Barrick Mining Corp. is in advanced talks to sell its last Canadian gold mine to Discovery Silver Corp., according to people familiar with the matter, as the firms seek to capitalize on the soaring price of the precious metal.
Discovery Silver is in the final stages of a process Barrick launched in April to sell the Hemlo gold mine in Ontario, the people said, who asked not to be named. There’s no certainty the deliberations will lead to a transaction, the people said.
Barrick and Discovery, both based in Toronto, did not immediately respond to requests for comment.
A flurry of deals have come amid a sharp rally in the precious metals market, with prices hitting a record earlier this year as investors flocked to safe-haven assets in response to geopolitical risks, including US President Donald Trump’s tariff campaign. The…
