Barrick buying second half of Nevada mine

American Barrick Resources has locked up a 100% working interest in Nevada’s Goldstrike gold mine with an agreement to buy Western States Minerals’ 50% interest in the property.

The purchase from Western States, a private company based in Minneapolis, is expected to close Dec 29. A previously announced deal to acquire the other 50% by taking over Pancana Minerals, subject to regulatory and shareholder approval, was announced in November.

The property, which produces about 40,000 oz of gold a year, is still subject to a net smelter return and a net profits royalty payable to Franco-Nevada Mining.