Barrick Gold eyes assets, exploration as it plots new phase – by Susan Taylor and Zandi Shabalala (Reuters/Yahoo – November 16, 2018)

TORONTO/LONDON (Reuters) – Barrick Gold Corp, soon to become the world’s largest bullion miner, is interested in adding more copper assets as long as the red metal is accompanied by bullion, executives said on Friday.

Barrick, which expects to complete its $6.1 billion takeover of Randgold Resources Jan. 1, outlined plans for exploration, expansion, streamlining and asset sales at an investor presentation in London.

Structured under regions in North America, South America and Africa and the Middle East, Barrick spent the last four days focusing on where to take the merged company, said Randgold Chief Executive Officer Mark Bristow, who will be Barrick’s new CEO.

Barrick is open to copper assets “as long as that copper is a component or co-product to the gold,” said Rod Quick, who heads Randgold’s projects and evaluation and will do the same in the merged company. “Or, unless that copper project will enhance our strategic partner network.”

In Africa, Barrick is open to exploiting its “substantial footprint” in the Democratic Republic of Congo to acquire world-class deposits, said Willem Jacobs, who heads Randgold’s operations in central and east Africa and becomes Chief Operating Officer of Barrick’s Africa and Middle East region.

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