- Write by:
-
Monday, March 1, 2021 - 10:14:51 PM
-
548 Visit
-
Print
Mining News Pro - Barrick Gold Chief Executive Mark Bristow said on Monday that a combination with copper miner Freeport McMoRan “had a lot of logic to it” even though a deal between the companies did not pan out.
Freeport Chief Executive Richard Adkerson told Reuters on Thursday he has no desire to combine Freeport with Barrick – or another gold producer.
“I don’t believe it makes sense to combine a company like ours with a gold company,” Adkerson said. “But I don’t criticize Mark (Bristow) for thinking we have good assets.”
A surge in copper prices to near ten-year highs has pushed up valuations of producers of the highly conductive metal, with Freeport’s stock nearly tripling over the past 12 months.
The combination of Freeport’s improving sales and stock price has seemingly shooed away potential bidders, including Barrick, when last year, CEO Mark Bristow expressed interest in Freeport.
At the time, Barrick’s market value was twice that of Freeport. Now, given its stock surge, Freeport is worth over $18 billion more than Barrick.
Bristow has told investors his first priority now is to expand the assets Barrick already owns.
Short Link:
https://www.miningnews.ir/En/News/611629
Canada’s corporate ethics watchdog on Tuesday said it was likely that human rights abuses had occurred at a mine in ...
Commodities usually rally when central banks cut interest rates, bolstering the case for going long raw materials in the ...
Cocoa extended its surge — gaining more than $700 per ton in a single day and surpassing $9,000 for the first time ever ...
Ivanhoe Electric (NYSE American: IE) (TSX: IE) terest in the Samapleu-Grata nickel-copper project in Côte d’Ivoire after ...
Awalé Resources (TSXV: ARIC) stock soared on Monday after the Newmont-backed gold explorer reported outstanding assay ...
Iron ore futures tumbled in Singapore, extending a stretch of volatile trading amid deepening anxiety over Chinese ...
French President Emmanuel Macron said on Monday the government is seeking to designate new regulated gold mining zones ...
The Democratic Republic of the Congo overtook Peru as the world’s second largest copper producer in 2023, though it ...
Newmont Corp. has kicked off the sale of its Akyem gold mine in Ghana, which is attracting interest from potential ...
No comments have been posted yet ...