ABG nets $142m for gold mine

London-listed African Barrick Gold has secured $142m (£90m) in financing from a syndicate of banks to expand its flagship Bulyanhulu process plant in Tanzania, the miner said yesterday. Chief executive Greg Hawkins added that while the FTSE 250 miner had sufficient cash on its balance sheet to fund the expansion, it used the financing as a “cost-effective” way of maintaining maximum flexibility within the portfolio.