Barrick Gold reviewed possible merger with Newmont Mining, no decision made

TORONTO -- Barrick Gold Corp. confirmed Friday that it has "reviewed the opportunity" to merge with rival Newmont Mining Corp. but that no decision has been made.

The Toronto-based gold miner said in a brief statement that it has considered an all-share, zero-premium transaction with Colorado-based Newmont -- a move that would combine two of the world's largest gold producers.

Newmont could not immediately be reached for comment.

The possibility of a deal comes less than two months after Barrick completed its merger with Randgold Resources that saw Randgold founder Mark Bristow become chief executive of the combined company.

Newmont announced a friendly deal in January to acquire Vancouver-based Goldcorp Inc. for US$10 billion. That transaction has not yet been completed.

Barrick shares were down three per cent early Friday, at C$17.05, and Goldcorp shares were down four per cent, at $14.58, on the Toronto Stock Exchange. Newmont was up two per cent, at US$36.04 on the New York Stock Exchange.

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