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Barrick Gold Corp
Symbol ABX
Shares Issued 1,165,430,940
Close 2017-01-13 C$ 22.17
Market Cap C$ 25,837,603,940
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Van Sun/wire says Goldcorp looks for potential partners

2017-01-16 08:47 ET - In the News

See In the News (C-G) Goldcorp Inc (2)

The Vancouver Sun reports in its Saturday edition that Goldcorp's future growth strategy will likely focus on partnering with other senior miners as it looks to share the burden of developing multibillion-dollar projects. A Bloomberg dispatch to The Sun says Goldcorp has been looking for deposits in the portfolios of other miners or privately held properties that it can develop as joint ventures, said chief executive officer David Garofalo. The focus, he said, has been primarily large-scale projects in the Americas. "These are things that would move the needle even on a 50:50 basis," Mr. Garofalo told Bloomberg, adding projects need to be big to replace the senior miners' dwindling reserves. "We have to reverse that because by definition we're dying otherwise as an industry." Mr. Garofalo pointed to Goldcorp's success with its Pueblo Viejo mine in the Dominican Republic, a joint venture with Barrick Gold, and the Nueva Union project in Chile, a 50:50 partnership with Teck Resources. Greenfield projects require a lot of work, including studies, social engagement and permitting. Partnering would alleviate that burden, he said. Goldcorp has held talks with Barrick, Newmont Mining and Agnico Eagle Mines.

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