Xstrata Sells El Morro Project To Barrick For $465M

Law360, New York (October 12, 2009, 5:41 PM EDT) -- Xstrata Copper Chile SA will sell the company's 70 percent interest in Chilean copper-gold project El Morro to Barrick Gold Corp. for $465 million.

The acquisition includes all rights and assets associated with El Morro. The deal is subject to several closing conditions, and is expected to be completed by January 2010.

"The acquisition of Xstrata's 70 percent interest in the El Morro project will add another large, high quality gold-copper resource to Barrick's portfolio," said Aaron Regent, president and CEO of Barrick. “Chile is an...
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