Donlin Gold

NOVAGOLD has appointed Frank Arcese as Project Director for Donlin Gold, leveraging his 40+ years of experience in large-scale mining and infrastructure projects. Arcese will lead the development towards a Bankable Feasibility Study, focusing on project planning, execution strategy, and organizational readiness. This strategic hire aims to advance one of the world’s premier undeveloped gold assets, with Arcese expressing excitement about its potential.

Barrick Gold sold its 50% stake in the Donlin Gold Project in Alaska for $1 billion to Paulson Advisers and NOVAGOLD. This strategic move reflects Barrick’s portfolio recalibration, focusing on resource allocation and streamlining operations. The divestiture, involving one of North America’s largest undeveloped gold deposits, frees up capital for Barrick to pursue new ventures or enhance existing ones, attracting keen Wall Street attention.