The Hemlo mine in Northern Ontario is one of the company’s oldest mines. Image from Barrick.
Barrick Gold Corp. is looking to sell its last mine in Canada in a push to capitalize on record gold prices and a renewed interest in North American mining operations.
Barrick began a process in April to sell its Hemlo gold mine in Ontario and retained Canadian Imperial Bank of Commerce to find buyers and solicit bids, according to people familiar with the matter, who asked not to be named.
Barrick and CIBC did not immediately respond to requests for comments.
The sale of the mine, if completed, would leave Barrick without any mines in the country where it was founded.
One of the largest Toronto-headquartered mining companies, Barrick has cut back on its Canadian presence since it merged with Africa-focused Randgold Resources Ltd. It moved some head office jobs out of Toronto in an effort to decentralize…
