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Barrick eyes Nevada gold mines, won't bid for Newcrest
By Divya Rajagopal and Helen Reid
Reuters
Wednesday, February 15, 2023
Barrick Gold Corp. would be open to taking over Newmont's stake in its Nevada Gold Mines joint venture, CEO Mark Bristow said today, after Newmont's $16.9-billion bid for Newcrest ramped up pressure on gold miners to do deals.
The Newcrest acquisition by Newmont, if successful, could result in the enlarged company shedding some assets.
"I've always said that the best assets that we haven't got are the other parts of our joint ventures," Bristow told Reuters in an interview. "If there was a way of acquiring those assets, I think we would be desirous of acquiring them."
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Barrick beat analysts' estimates for quarterly profit and announced a share buyback of up to $1 billion after record payouts to shareholders last year.
Bristow stuck to the company's "build, not buy" approach and ruled out the possibility that Barrick would launch a counter bid for Newcrest. ...
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