Barrick Gold and Xstrata in gold copper mine property salesThe case of property purchase gold and copper mine in Chile by Barrick Gold Corp. will drag Xstrata Plc. Barrick Gold an agreement on January 7 which agreed to promote the new Goldcorp Gold $ 463 million to let him buy a 70 percent stake in the El Morro property from Xstrata Plc. Goldcorp also agrees to pay an additional $ 50 million to get the shares of New Gold, who already has 30 percent and has first refusal rights.

However, on January 13, Barrick Gold pleaded with the judge to add to Xstrata as a defendant in the January 13 suit to block the New Gold Inc. from selling the property for Goldcorp Inc.

Xstrata, based in Zug, Switzerland, has agreed to sell its shares in the property to Barrick of $ 465 million on October 11, on the condition of New Gold’s first refusal rights over, Barrick said. Because the shareholder agreement prohibits the transfer of shares to a third party, Goldcorp’s acquisition of Barrick is illegal and has the right to complete the transaction, Barrick said.

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