Barrick intends to use $1.9 billion of the net proceeds to eliminate all of its fixed priced (non-participating) gold contracts within the next 12 months and approximately $1.5 billion to eliminate a portion of its floating spot price (fully participating) gold contracts. A $5.6 billion charge to earnings will be recorded in the third quarter as a result of a change in accounting treatment for the contracts.

( Extracted from their NR )