The Financial Post reports in its Thursday edition that the world's largest gold mining companies are expecting more consolidation in the sector ahead. The Post's Sunny Freeman writes, however, that most executives told a mining conference in Toronto on Wednesday that they are more interested in partnerships. For years, miners have been focused on slashing capital costs, many aiming to bring down all-in sustaining costs to about $700 an ounce. Even as its two largest rivals expressed interest in partnerships to explore and build new mines, Barrick Gold's chief financial officer Catherine Raw is more tempered on her company's appetite for growth by acquisition. While dramatic cost-cutting is done for now, Ms. Raw said, Barrick is also not planning a spike in capital spending, instead preferring to focus on organic growth. "I would say we're off the defence now but to say we're on the offence would imply that Barrick is returning to the level of M&A we've seen in the past," Ms. Raw cautioned investors. "If we're not focused on growing for growth's sake than the nature of M&A will change. But I do think as an industry new assets are getting harder and harder to find" because of cutbacks on exploration.