Vancouver — Barrick Gold, the world’s second-largest gold producer, has studied a bid for Newmont Mining as the Canadian mining company looks for ways to boost production, people familiar with the matter said. Barrick has looked on and off at the feasibility of an offer for Newmont for some time, including in recent months, according to the people, who asked not to be identified because the deliberations are private. One possibility that Barrick has studied would involve teaming up with a partner, such as Newcrest Mining, in a bid for Newmont, the people said. It is unclear if Barrick is considering any transaction, the people said. Greenwood Village, Colorado-based Newmont has a market value of almost $19bn. Newmont’s shares climbed 3.3% before regular trading in New York on Friday, while Barrick slipped. Joint venture In 2014 Barrick and Newmont were close to a merger before talks broke down at the last minute over disagreements on the terms of the deal. Separately Barrick and New...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.