Barrick Gold partnered with the affiliates of Paulson Advisers and NOVAGOLD to sell its 50% interest in the Donlin Gold Project in Alaska.

Barrick Gold (NYSE:GOLD) said Tuesday it agreed to sell its 50% stake in the Donlin Gold project in Alaska to affiliates of Paulson Advisers and NovaGold Resources (NG) for $1B in cash; Barrick +1.8%,

While Barrick looked at developing Donlin over the years, it has elected instead to pursue projects it believes offer superior return potential