Barrick Mining Corporation President and CEO Mark Bristow, right, rings the New York Stock Exchange opening bell on May 9.

Barrick Mining ABX-T has agreed to sell its Hemlo gold mine in Canada to Carcetti Capital CART-H-X for up to US$1.09 billion, the companies said on Wednesday.

The deal includes US$875-million in cash at closing, US$50-million in shares of Carcetti, and up to US$165-million in contingent payments linked to production and gold prices from 2027 over five years, the statement added.

Carcetti said it will fund the acquisition through a mix of financing, including a US$400-million gold stream with Wheaton Precious Metals, a US$225-million loan underwritten by Scotiabank and about US$415-million from a private placement.

The deal is expected to close in the fourth qua

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