Canadian gold miner Barrick Gold on Monday announced a proposal to merge with US gold producer Newmont in an all-share transaction, which CEO Mark Bristow said would be “far superior” to Newmont’s proposed $10-billion acquisition of Goldcorp.
He said the proposed merger of Barrick and Newmont would unlock more than $7-billion pretax net present value (NPV) of synergies1, a major portion of which was generated by combining the two companies’ complementary assets in Nevada.