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Shandong Gold Group and Barrick Gold Corp.Signing the Mutual Strategic Investment Agreement
On September 24, 2018, Shandong Gold Group and Barrick Gold Corp. signed the Mutual Strategic Investment Agreement. Pursuant to terms of the agreement, the parties will acquire each other’s shares listing on the relevant stock exchanges with respective investment amounts not exceeding US$300 million. The agreement, on the basis of the Strategic Cooperation Agreement dated April 6, 2017 and the Strategic Cooperation Promotion Agreement dated July 9, 2018, represents the deepening and development of the mutual trust between Shandong Gold Group and Barrick Gold Corp. based on common culture and development philosophy and the belief in future development potential of the gold sector.
Shandong Gold Group, through the joint development and operation of the Veladero Mine project in Argentina with Barrick Gold Corp., has promoted cultural integration, technology exchange and management progress, achieving sustained growth in gold production, becoming China's first gold producer, and providing more opportunities for other world-class gold deposits and promising projects.
The signing of this agreement is of great significance for Shandong Gold Group to lay its footprints in global mining industry and international capital market and build an international and modern world-class mining group. In the future, Shandong Gold Group and Barrick Gold Corp. will create long-term values for the shareholders, governments and other stakeholders of both parties through deeper and more extensive cooperation.