The largest M & A in the mining industry,the birth of the gold industry giant
The Canadian mining giant, Barrick Gold, has acquired a 1,000-share stake in the Newmont mining company through a wholly-owned subsidiary, according to an Australian banker who plans to buy Newmont at $1.9 billion, according to an Australian banker, according to a heavy-pound news release by Bloomberg. This may be one of the largest mining deals ever. It is said that the Barrick plan will retain the Nevada and African mines in Newmont, while Newark is considering taking over the Australian business of Newmont.
Before, the mining industry has appeared two major mergers and acquisitions. In September last year, Barrick Gold bought South African Rand Gold Resources for $6 billion. Three months later, Newmont Mining announced it would buy competitors for $10 billion, allowing it to overtake Barrick Gold as the world's largest gold mining company and consolidate the return of mergers and acquisitions in the bank.
Barrick Gold is headquartered in Toronto with operations in North America, South America, Africa and Australia. It is mainly engaged in gold exploration, development, production and sales. It is also engaged in the exploration, production and sale of copper and silver mines. It is also involved in the development of platinum and nickel. Among them, Barrick Gold's gold mining, selection and smelting technology Leading the world. There are 20 or 30 mines under the name of the company, with a gold reserve of more than 90 million ounces, a silver reserve of 1 billion ounces, and a copper reserve of 6 billion pounds. In 2017, Barrick Gold produced 5.32 million ounces of gold, ranking first in the world, leading the second largest gold company, Newmont Gold, with a slight advantage.