Barrick Gold Corp, the world's No. 2 gold miner, believes its proposed offer to take full control of its African unit is "more than fair" and will engage with Acacia Mining Plc's board and minority shareholders to win them over, Chief Executive Mark Bristow told Reuters on Tuesday.
TORONTO/LONDON Ahead of Tuesday's deadline for Barrick Gold Corp to make a firm buyout bid for its Acacia Mining unit, a gold rally has eroded, but not eliminated, a discount and big Acacia shareholders say they still oppose the offer.
TORONTO/LONDON British hedge fund Odey Asset Management said on Thursday it would reject any offer from Barrick Gold Corp for its stake in Acacia Mining Plc that is framed as "best and final," becoming the second Acacia investor to publicly oppose the Canadian mining giant's buyout proposal.
LUSAKA/LONDON/TORONTO Zambia has no plans to seize the assets of Quantum Minerals Ltd and the copper producer intends to stay in the country despite the government's move to wrest control of a rival miner, government and industry sources told Reuters.
LONDON/TORONTO Barrick Gold Corp's offer to buy the rest of Acacia Mining for $787 million is fair because the Canadian company is taking on more risk by increasing its exposure to Tanzania, its chief executive said on Friday.
LONDON/TORONTO, May 24 Barrick Gold Corp's
offer to buy the rest of Acacia Mining
reflects the risk the Canadian-listed mining company faces in
increasing its exposure to Tanzania, its chief executive said on
Barrick Gold Corp's proposal to take full control of its Acacia Mining Plc unit to resolve a long-standing tax dispute with Tanzania has drawn the ire of Acacia's minority shareholders, who may have the ultimate vote on a deal.
TORONTO Barrick Gold Corp, the world's second-largest gold producer, said on Wednesday it remained open to new investments, even as it plans to shed $1.5 billion of less productive mines.