Print Edition - 2018-09-26  |  Money Digest

Barrick Gold to buy Randgold for $6.5 billion


Sep 26, 2018-

Canada’s Barrick Gold Corp has agreed to buy Randgold Resources Ltd in an all-stock deal valuing the Africa-focused miner at $6.5 billion, to create the world’s largest gold producer in an industry under investor pressure to put capital to good use. The new Barrick company, which will be listed in New York and Toronto, will own five of the world’s 10 lowest-cost gold mines and have a market value of $19.4 billion based on Monday’s trading. That would make it the world’s biggest gold miner by market capitalisation, overtaking Newmont Mining Corp, according to Reuters calculations. The deal marks the biggest transaction in years in the gold mining industry. (REUTERS)

Published: 26-09-2018 09:10

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