B2Gold eyes African assets B2Gold eyes African assets
merged Barrick-Randgold may sell
B2Gold (BTG +1.6%) CEO Clive Johnson says the miner is interested in any West African assets that Barrick Gold (ABX -0.5%) may put up for sale after its acquisition of Randgold Resources.
“If there are opportunities in West Africa that don’t perhaps fit the new Barrick model, in terms of the size of project, or other things, then we’d be keen to look,” Johnson tells Reuters.
BTG would be particularly interested in projects it can develop to produce 200K oz./year of gold for at least 10 years, as opposed to already-built mines, and investments with a ~20% rate of return at gold prices of $1,200-$1,250/oz., Johnson says.
BTG shares have climbed as much as 3% today following better than expected Q3 production results.