Zaldivar mine, located in northern Chile, about 1,400 km north of capital Santiago, operates as a 50/50 joint venture with Chilean miner Antofagasta (LON: ANTO). The mine produced around 80,000 tonnes of copper last year, a figure that pales in comparison to larger mines in the region.
Antofagasta is going ahead with a $1.2 billion expansion of the mine, which would keep operations running through 2051.
While Barrick Gold is keen to expand into the copper sector, the company is also prioritizing the simplification of its business model. This includes a focus on tier-one assets and efforts to reduce debt.
Barrick had not responded to inquiries from MINING.COM regarding the potential sale at the time of publication. The divestment process remains in its early stages, according to Bloomberg sources, and it is uncertain whether a deal will materialize.
Looking ahead, Barrick Gold’s strategic pivot…
