Barrick Gold Corporation
Barrick Gold Corporation
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A27.50 per year
(*$A250 for up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
Hostile takeover attempt ends with joint venture agreement to unite Tier 1 mines and 48Moz of gold reserves into a single giant JV operation.
Barrick Gold has dropped its $US18B hostile takeover bid for Newmont Mining, agreeing instead to form a JV covering the companies’ combined operations and mining assets in Nevada, USA.
The JV deal will see Barrick take 61.5% to Newmont’s 38.5% of what will be the world’s largest single gold producer with pro forma output of over 4Moz in 2018.
Barrick and Newmont estimate the JV of what have until now been independent projects in Nevada will capture $5B in savings from synergies over the forecast 20-year mine life.
START THE WEEK: WHAT YOU NEED TO KNOW
Two weeks after Barrick Gold’s hostile $US18B bid for Newmont Mining, with the principal players putting their arguments at major conferences and commentators around the world having their say, there’s still little clarity about what it all means.
Is Barrick’s underlying motive simply the desire to retain the status of the world’s biggest gold producer? Not that there’s anything necessarily wrong with that, because being No 1 must come with some benefits in the market-place.
Barrick Gold CEO Mark Bristow wants immediate talks with Newmont Mining about a proposed Nevada, US, operations J/V as his company moves to take its $US18B takeover bid directly to Newmont shareholders, Reuters reports.
Barrick Gold wants to talk J/V on Newmont Mining’s Nevada, US, operations, despite having its Newmont takeover rejected and plans to go directly to Newmont shareholders on a full takeover
Gold major Newmont Mining has rejected Barrick Gold’s hostile, all-share, $US17.8B takeover bid, saying the deal that would have created the world’s biggest gold producer, was not as good as Newmont’s previously announced $10B bid for fellow producer Goldcorp.
However, Newmont has offered Barrick a J/V on the companies Nevada, US, operations.
The Newmont Mining board has unanimously rejected the Barrick Gold bid saying it’s not as good as the previously announced Newmont-Goldcorp get together
Australian gold production hit a record 317t for CY18, breaking the record set 21-years ago, with near future output looking good, Surbiton report
Newmont Mining CEO Gary Goldberg has questioned the motives behind Barrick Gold’s hostile $US18B takeover bid for his company.
Goldberg used a scheduled address to the BMO Global Metals & Mining Conference in Florida to make a first strike against Barrick’s attack, outlining his company’s superior market performance and the advantages of its previously announced agreed takeover of Goldcorp.
Within hours of Barrick Gold announcing its hostile $US18B all-shares takeover plan, Newmont Mining CEO Gary Goldberg has outlined a strong case for rejecting the bid.
Goldberg, in a presentation to a BMO Capital Markets conference in the USA today, has compared Barrick unfavourably with Newmont – and particularly in the light of its mutually agreed tie-up with Goldcorp.