Barrick to sell silver to Silver Wheaton

Barrick Gold Corp (ABX.TO), the world's largest gold miner, said on Tuesday it had agreed to sell 25 percent of silver production from its Pascua-Lama project in South America to Silver Wheaton Corp (SLW.TO).

Barrick will receive $625 million over three years, as well as ongoing payments for each ounce of silver delivered under the agreement, which covers the life of the mining project.

Pascua-Lama, on the border of Chile and Argentina, is expected to become one of the world's largest and lowest-cost gold mines when it begins production in 2013.

Read Full Article from Reuters

- Posted: 2009-09-08 10:42:38

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