Barrick and Shandong announce $300m cross investment

Gold major Barrick Gold, which on Monday announced a $18.5-billion merger with Randgold Resources, has reached a cross investment agreement with China’s Shandong Gold, which executive chairperson John Thornton said further deepened the partnership between the two companies. Under the agreement, Shandong will purchase up to $300-million of Barrick shares, and Barrick will invest an equivalent amount in shares of Shandong Gold Mining Co, a publicly listed company controlled by Shandong Gold.