Newmont Corp. (NYSE: NEM) is studying a potential deal to gain control of Canadian rival Barrick Mining’s (TSE: ABX) prized Nevada gold assets, people with knowledge of the matter said.
Denver-based Newmont has a minority stake in a Nevada gold mining joint venture with Barrick, which is operated and majority owned by Barrick. Newmont is in the early stages of considering various transaction structures that would allow it to gain full ownership of the assets, the people said, asking not to be identified because the information is private.
It’s unclear how receptive Barrick would be to any overtures, especially as the Nevada gold mines are considered to be among its most valuable assets. Newmont could consider options including a bid for Barrick’s stake in the venture as well as a full takeover of the company…
