Barrick Gold is to sell its stake in the Russian gold producer Highland Gold Mining. The announcement has seen Highland's share price drop sharply in morning trading.
Highland says Barrick now sees its 20.4% stake as "non-core" to its activities and has enlisted HSBC to coordinate the sale.
The value of the stake is around £112m based on the closing price last Friday. By 11.20am the stock had dropped 5.4%.
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Over the last 12 months Highland shares have fallen 12%.
BS
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