Novagold and Paulson confirm $1.0 billion deal

23rd April 2025 Novagold and Paulson confirm $1.0 billion deal

Novagold resources has made a press release informing that with Paulson Advisers LLC have entered into a definitive agreement with Barrick Gold Corporation to acquire Barrick’s 50% interest in Donlin Gold LLC for $1.0 billion in cash. This transformative partnership paves the way for the responsible development of the Donlin Gold project, located in Southwest Alaska’s Kuskokwim region.

Dolin Gold project

Donlin Gold is a unique project in the North American gold space. Nestled in a prime jurisdiction, it hosts 39 million ounces of gold in measured and indicated resources, with grades twice the industry average. This project represents immense potential with an estimated 27-year mine life, projected annual production of 1.1 million ounces, and significant exploration upside. Beyond its scale and quality, Donlin Gold benefits from strong community and state support, with longstanding partnerships with the landowners, Calista Corporation and The Kuskokwim Corporation (TKC).

Key points

Under the agreement: Novagold will increase its ownership in Donlin Gold LLC from 50% to 60% for $200 million and Paulson Advisers LLC, will acquire a 40% interest for $800 million and become an equal partner in project management.

Together, this partnership brings unparalleled expertise and commitment to advancing Donlin Gold responsibly and sustainably

What is next?

Donlin Gold is more than a mining project. It’s a symbol of sustainable development, balancing economic progress with environmental stewardship and respect for traditional ways of life. Through strong collaboration with Calista and TKC, the project will prioritize the protection of the land and subsistence practices while delivering significant economic benefits to the region.

Key initiatives for the coming year include: updating the Feasibility Study to unlock Donlin Gold’s full potential, advancing technical work, engineering designs, and permitting efforts, expanding exploration to uncover new reserves and resources, enhancing community outreach and investment in the Yukon-Kuskokwim region.

Word from CEOs

Dr. Thomas S. Kaplan, Novagolds’s Chairman , said: “The announcement of our new partner, Paulson, marks the watershed moment in our company’s ambition to unlock conscientiously the full value of Donlin Gold.”

Greg Lang, Novagolds’s President and CEO , said: “Our management team welcomes this enormous vote of confidence and looks forward to initiating an updated Feasibility Study, as well as to allowing our new drill program to move towards reserve and resource expansion. Most importantly, this agreement reaffirms both partners’ pledge to our Native Corporation partners and to the State of Alaska to advance this project.”

Andrew Guy, Calista’s President and CEO , said: “This land has been stewarded by the Alaska Native people of the Yukon-Kuskokwim region since time immemorial and Calista continues to be engaged in all aspects of the Donlin Gold project. Donlin Gold represents a most valuable resource and a commitment to responsible development that honors the land and the legacy of our Elders and ancestors.”

Andrea Gusty, President and CEO of TKC , said: “We support resource development when it can be done responsibly — aligned with our values of sustainability, community investment, and respect for traditional ways of life. The advancement of the Donlin Gold project represents a once-in-a-generation opportunity. Like all development, it must be guided by our obligation to steward the land — ensuring today’s opportunities do not compromise tomorrow’s.

This agreement marks a pivotal moment, reinforcing the commitment to environmentally conscious practices, economic growth, and long-term partnerships.

Next WMC Congress

World Mining Congress

2026

The 27th World Mining Congress will be organized in 2026 in Peru. Detailed information can be found either on the 27th WMC official webpage or the first circular.

Learn more
27th
Next IOC Meeting

IOC / WMC Meeting

2025

The 106th IOC/WMC meeting will be organized on September 18th 2025 in Jakarta, Indonesia.

Learn more
106th

Our news Others news

16th September 2025 Bahrain steps into the future of deep sea mining

Seabeds raw minerals. Source; Photo by Nathan Langer on Unsplash

The International Seabed Authority (ISA) has made a press release informing that it has received an…

10th September 2025 Anglo American and Teck are joining forces

Big news in the mining sector. Anglo American and Teck Resources Limited are joining forces in…

5th September 2025 A new chapter for mining in Minas Gerais

Open pit mine. Source: Photo by omid roshan on Unsplash

Vale has made a press release informing that it celebrated an important milestone: the reopening of…

2nd September 2025 Ukraine announces 50-year lithium mining tender

Lithium battery. Source: Photo by Vardan Papikyan on Unsplash

Reuters has informed that Ukraine has taken a significant step forward in strengthening its strategic economic…

25th August 2025

Machu Picchu landscape. Source: Unsplash.

Peru’s Mining Sector Shows Strong Growth The Minister of Energy and Mines, Jorge Montero, announced that…

22nd August 2025 Peabody Energy announces the termination of its agreements with Anglo American

Coal. Source: unsplash.

Peabody Energy has made a press release announcing the termination of its agreements with Anglo American…

21st August 2025 Glencore has taken an important $13 billion step in Argentina

Truck during hauling process. Source: Photo by Dominik Vanyi on Unsplash.

Glencore has informed that it has officially submitted applications for El Pachón and Agua Rica projects…

18th August 2025 Seabed collaboration

Seabeds raw minerals. Source; Photo by Nathan Langer on Unsplash

The Governments of the United States of America and the Cook Islands are launching a new…

12th August 2025 Fortescue secures landmark $1.98B loan to accelerate decarbonisation

Open pit mine aerial view. Source: Photo by Manuel Manser on Unsplash

Fortescue has just signed a US $1.98B yuan-denominated syndicated loan to supercharge its decarbonisation plans. This…

6th August 2025 Water and tailings in the spotlight: A call for innovation, transparency, and technical excellence

Crowded conference. Source: Photo by Alexandre Pellaes on Unsplash

On August 28–29 at the College of Engineers of Peru in Lima (San Isidro) the 2nd…