Barrick Gold wants tier-1 assets in Canada! GT Gold fits. “The industry still needs further consolidation,” Bristow said Wednesday. “Canada still needs more work on consolidation.”
For its part, Barrick remains interested in acquiring more so-called tier-1 assets, including Freeport-McMoRan Inc.’s Grasberg mine in Indonesia, Bristow said.
“Barrick as you know is completely, single-mindedly focused on tier-1 assets, and so it’s going to be of interest to us because there aren’t many tier-1 assets left that we don’t own or own part of,” Bristow said.
Tier-1 gold assets are generally considered to have output of at least 500,000 ounces a year and long-term costs at the lower end of industry averages.
Mergers and acquisitions are likely to dominate the sector in Africa, and are needed in Canada, where the world’s second-largest gold miner is based.
Source:
https://www.bnnbloomberg.ca/barrick-ceo-says-gold-mining-industry-still-needs-to-consolidate-1.1505052