March 28, 2017 / 12:17 PM / 8 months ago

BRIEF-Barrick Gold to form new partnership with Goldcorp

March 28 (Reuters) - Barrick Gold Corp:

* Has reached an agreement with Goldcorp Inc to form a new partnership at cerro casale project in Chile

* Barrick Gold Corp - under terms of agreement, Goldcorp has agreed to purchase a 25 percent interest in cerro casale from Barrick

* Barrick Gold - as consideration for 25 percent interest acquired from Barrick, Goldcorp will fund Barrick’s first $260 million of expenditures on project

* Barrick Gold - Goldcorp will also fund cerro casale JV’s acquisition of 100 percent interest in adjacent quebrada seca property from Kinross upon closing

* Barrick Gold - deal, coupled with concurrent purchase by Goldcorp of Kinross 25% interest in cerro casale, will result in a 50/50 JV between Barrick, Goldcorp

* Barrick Gold - as consideration for 25 percent interest acquired from co, Goldcorp will spend a total project investment commitment of $520 million Source text for Eikon: Further company coverage:

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