22:24:34 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



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
Recent Sedar Documents

FP/wire say Goldcorp eyeing JVs with Agnico, others

2017-01-16 08:57 ET - In the News

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

The Financial Post reports in its Saturday, Jan. 14, edition that Goldcorp is mulling partnerships with other senior miners. A Bloomberg dispatch to the Post reports that chief executive officer David Garofalo says Goldcorp has been looking for deposits in the portfolios of other miners or privately held properties that it can develop as joint ventures. The focus has been large-scale projects in the Americas. The CEO says, "These are things that would move the needle even on a 50-50 basis." He says projects need to be big to replace dwindling reserves. He adds, "We have to reverse that because by definition we're dying otherwise as an industry." Mr. Garofalo notes Goldcorp's success with its Pueblo Viejo mine in the Dominican Republic, a joint venture with Barrick Gold, and the NuevaUnion project in Chile, a 50-50 partnership with Teck Resources. He says the greenfield projects he would be looking to develop require a lot of work, including studies, social engagement and permitting, and are huge drains on management. Partnering would alleviate that burden, he says. Goldcorp has held talks with Barrick, Newmont Mining and Agnico Eagle Mines about marrying their financial resources and technical expertise.

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