Tags: Barrick | gold | Australia | Newmont

Barrick Gold in Talks to Sell More Mining Assets in Australia

Tuesday, 24 Sep 2013 03:01 PM

Barrick Gold Corp., the world’s largest producer of the metal by sales, is in talks to sell more assets as it seeks to reduce operating costs and focus on its most efficient mines.

The company, which has already agreed to sell some of its Australian mines this year, is in talks about selling additional assets in the country, Chief Executive Officer Jamie Sokalsky said in an interview at the Denver Gold Forum. The Toronto-based company is considering the sale of other assets around the world, he said.

Barrick is getting unsolicited expressions of interest in some of its operations from private-equity firms and smaller mining companies, Sokalsky said.

“It’s no secret that some of the Australian assets fit the kind of description that I’ve talked about in terms of being non-core and assets that are higher-cost and I think don’t fit well long term with our portfolio,” he said. “We are talking to some people about those assets, and then various assets around the world which I wouldn’t want to name.”

Barrick would also consider forming a joint venture with U.S. rival Newmont Mining Corp. in Nevada to reduce costs, Sokalsky said.

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Barrick Gold Corp., the world's largest producer of the metal by sales, is in talks to sell more assets as it seeks to reduce operating costs and focus on its most efficient mines.
Barrick,gold,Australia,Newmont
192
2013-01-24
Tuesday, 24 Sep 2013 03:01 PM
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