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Barrick Gold Corp
Symbol ABX
Shares Issued 1,164,669,578
Close 2014-04-17 C$ 19.81
Market Cap C$ 23,072,104,340
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Globe says Barrick, Newmont talk merger, again

2014-04-21 08:00 ET - In the News

The Globe and Mail reports in its Monday edition Barrick Gold and Newmont Mining had hoped to finalize an all-stock deal before Newmont's annual meeting of shareholders, scheduled for Wednesday. The Globe's Rachelle Younglai and Eric Reguly write, however, negotiations hit a snag late last week and the companies decided to take a break. The miners are still open to merger discussions and could rekindle talks ahead of Barrick's annual meeting April 30. Combining the companies would create a North American mining giant valued at more than $30-billion (U.S.), with gold production exceeding 11 million ounces a year. For years, Barrick and Newmont have talked about joining their Nevada operations. The miners already jointly own the Turquoise Ridge mine in Nevada and have some neighbouring assets in the state. Barrick owns six mines in the state, including its most prolific, Goldstrike. Colorado-headquartered Newmont owns 18 mines there. The companies' last serious merger discussion came in 2009 when the gold market was thriving. Those talks fell apart when Newmont wanted to move Barrick's Toronto headquarters. It was proposed the miners would spin out some of their non-core assets.

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