Update: Market Chatter: Newmont Mulls Offer for Barrick's Nevada Gold Assets

MT Newswires Live
Oct 27

(Updates with Barrick's response in the fourth paragraph, recent Newmont and Barrick stock moves in the fifth paragraph.)

Newmont (NEM) is considering a potential offer to gain control of Barrick Mining's (B) Nevada gold assets, Bloomberg reported late Friday, citing people familiar with the matter.

Newmont, which owns a minority interest in a Nevada gold mining joint venture with Barrick, is studying options that may include a bid for Barrick's full ownership of the assets, as well as a full takeover of its rival, the report said.

The discussions are ongoing, and no agreement may be reached, the report said.

Barrick declined to comment, while Newmont did not immediately respond to a request for comment from MT Newswires.

Shares of Newmont and Barrick were down nearly 7% and nearly 4%, respectively, in recent Monday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 77.80, Change: -5.57, Percent Change: -6.68

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