06:33:20 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,165,215,209
Close 2016-06-09 C$ 24.91
Market Cap C$ 29,025,510,856
Recent Sedar Documents

Post/wire say Barrick could be eyeing mining assets

2016-06-09 08:03 ET - In the News

The Financial Post reports in its Thursday edition that miners might be about to see a resurgence in deal-making. A Bloomberg dispatch to the Post says that the mergers and acquisitions in the sector reached a decade-low last year, accounting for 3 per cent of transactions across all industries. As long as commodities do not plunge, weaker prices in the second half may spur more deals as buyers gain the upper hand and sellers become more desperate, according to Macquarie's survey of more than 60 companies. This year "could mark the turning point in deal activity," Macquarie analysts said in a report Wednesday. While raw materials entered a bull market this week, prices are still more than 60 per cent below their 2008 peaks. Copper and gold assets are the most desired by producers and Rio Tinto Group and Barrick Gold may be the standout buyers in their industries, the bank said. London-based Rio Tinto, the world's second-biggest miner, is one of the few with "significant deal firepower," able to spend $11-billion to $16-billion, Macquarie said. Others best positioned for deals include BHP Billiton Ltd. in coal, South32 Ltd. in copper, nickel and zinc, and Mitsui & Co. in copper and coal.

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