In an effort to take advantage of rising gold prices, Barrick Gold Corp is considering selling its gold mine in Tongon, Ivory Coast.

The Tongon mine, located 682 kilometers north of Abidjan, produced 204,000 ounces of gold in 2023. The company commissioned the Toronto-Dominion Bank style="font-family: "Bookman Old Style”, serif"> to identify potential buyers and to tender for the mine. The Tongon mine accounts for approximately 5% of Barrick's total production. Barrick owns nearly 90% of the farm. Barrick's approach echoes that of its competitor Newmont Corp style="font-family: "Bookman Old Style”, serif"> which raised $3.9 billion in 2024 through the sale of assets, including its Akyem mine in Africa, in particular its Akyem mine in Africa, sold to ;Zijin Mining style="font-family: "Bookman Old Style”, serif"> for $1 billion. Barrick Gold's planned divestiture of the Tongon mine could generate considerable interest, given the current increase in the value of mining assets. The sale of this aging asset is part of Barrick's focus on higher-quality, lower-cost transactions