On April 22, 2025, Paulson & Co. Inc and NovaGold announced their acquisition of Barrick Gold’s 50 percent stake in Donlin Gold Project for $1.1 billion. The acquisition increases NovaGold's ownership in Donlin Gold Project to 60 percent, while Paulson takes a 40 percent stake, establishing an equal partnership to jointly manage and develop the project.
Paulson, a private investment firm headquartered in Palm Beach, Florida, specializes in strategic investments across various industries, with a strong focus on gold and mining-related opportunities.
NovaGold Resources Inc. is a mining company headquartered in Vancouver, Canada, focused on the exploration and development of gold properties, including its flagship Donlin Gold project in Alaska.
Blake, Cassels & Graydon LLP and Dorsey & Whitney LLP served as legal counsel to NovaGold.
McCarthy Tétrault, Goodmans LLP, and Kleinberg, Kaplan, Wolff & Cohen advised Paulson. Roger Taplin led the McCarthy Tétrault team.
Davies Ward Phillips & Vineberg LLP represented Barrick with a team led by Melanie Shishler (Private M&A/Mining) and including Richard Fridman, Zach Hershenfeld, Brandon Orr and Charles Larose Jodoin (Private M&A/Mining); Scott Hyman and Hugh McKee (Financing); and Sharon Ford and Chris Anderson (Tax).
Holland & Hart LLP represented Barrick in the United States.