Herbert Smith Freehills has advised Barrick Gold Corporation on the sale of its Cowal gold mine in New South Wales to Evolution Mining Limited, and on the sale of a 50% interest in Barrick (Niugini) Limited, which is the 95% owner and manager of the Porgera Joint Venture gold mine in Papua New Guinea, to Zijin Mining Group Co., Ltd for a combined total consideration of approximately A$1.2 billion.

The deals were led by Herbert Smith Freehills partner Tony Damian and supported by senior associate Clayton James and solicitor Philip Cooper. The deal team was also supported by the Herbert Smith Freehills’ Hong Kong and Shanghai offices.

Tony Damian said: “We are delighted to have advised Barrick on these important transactions, which demonstrate that cross-border M&A activity remains strong in the Asia Pacific region.”