Barrick investors welcome Chinese tie-up, debt reduction moves

Barrick Gold's first step to long-promised partnerships with China, as well as progress in reaching an ambitious debt-cutting goal, are turning sceptical investors warmer toward the world's biggest gold miner. Barrick said on Tuesday it would sell a stake in its Porgera mine in Papua New Guinea mine to China's Zijin Mining Group, and form a strategic partnership with Zijin. The moves marked an initial push in executive chairperson John Thornton's plan to forge closer ties with China, the world's biggest producer and consumer of gold.