Waterton closes $110 mln buy of Barrick's Nevada assets

Waterton Global Resource Management, a Canadian mining private equity firm, has closed its previously announced purchase of Nevada mining assets from Barrick Gold Corp (NYSE, TSX: ABX). Waterton paid $110 million in cash for a 70 percent interest in the Spring Valley project and 100 percent of the Ruby Hill gold mine. In a separate statement, Waterton also announced it has closed its previously announced buy of Midway Gold Corp's 30 percent interest in the Spring Valley project for US$25 million in cash. Toronto-based Waterton raised over US$1 billion for its second fund, Waterton Global Precious Metals Fund II, in April 2014.

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