Barrick is on track to meet $3 billion debt-reduction goal.

Barrick Gold Corp, agreed to sell assets in Nevada to Kinross Gold Corp. and private equity firm Waterton Global Resource Management for $720 million, as the biggest bullion producer cuts debt after prices fell.

Kinross, which already owned half of the Round Mountain mine, will buy the other half from Barrick, as well as 100 percent of the Bald Mountain mine, for $610 million, the Toronto-based miners said in separate statements Thursday. Kinross and Barrick also agreed to form a 50-50 exploration joint venture for Bald Mountain.

Barrick shares rose 2.4 percent at 11:18 a.m. in Toronto, avoiding a global metals rout on concerns over demand in China, the world’s biggest consume. Kinross was down 3.3 percent and slumped as much as 6.2 percent.

The agreements mean Barrick has announced asset sales, joint ventures and partnerships this year worth $3.2 billion as part of a $3 billion debt-reduction goal after bullion prices slumped about 40 percent from a record high in 2011. In July, the company sold a 50 percent stake in its Zaldivar copper mine in Chile to Antofagasta Plc for $1 billion. Earlier it sold half of its Porgera mine in Papua New Guinea to Zijin Mining Group Lt.

Barrick had also hoped to sell its Golden Sunlight mine and early-stage project Hilltop. The company “will continue to look at options to realize value from those assets,” spokesman Andy Lloyd said in an email Thursday.

Long Life. In a separate arrangement, units of a Waterton fund will buy 70 percent of the Spring Valley project and all of the Ruby Hill mine for $110 million.

In the case of Ruby Hill, Waterton will be mining new areas that will require some additional permitting. Chief Investment Officer Isser Elishis said in a telephone interview “We have expectations hat this asset will go for decades to come.”

Spring Valley is a late-stage project that requires permits and a mine optimization plan, he said. The remaining 30 percent of that asset is held by Midway Gold Corp., which filed for bankruptcy protection in June.

“One thing Waterton is also extremely good at is consolidating multiple owners and it would be our hope we can do the same thing here,” Elishis said.

CIBS World Markets acted as financial ariser to Barrick, while Parsons Behle & Latimer and Davies Ward Phillips & Vineberg offered legal advice.

RBC Capital Markets and TD Securities acted as financial advisers to Kinross, while Crowley Fleck were its legal advisers. Stikeman Elliot and Davis Graham & Stubbs acted as legal advisers for Waterton.