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Global: Plans for gold mining behemoth collapse

By  |  April 21, 2014

The world’s largest gold mining company, Canada-based Barrick Gold, and US-based Newmont Mining had been in discussions to merge into a global gold mining behemoth, but sources say those talks have broken down.

According to two unnamed sources, the source of the breakdown were mere minor disagreements, leading to speculation that merger talks could resume. The two companies were reportedly planning on announcing a deal this week, the sources said.

Together, the companies would have a market value estimated at $33 billion and hold operations on five continents, reports said.

Leading to the disagreement were uncertainties over which mines the two would spin-off to receive antitrust approval for the deal. Reports say the firms agreed to all terms except those relating to divestitures in Australia and New Zealand, one source said.

Full Content: Bloomberg

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