Loading ...Barrick denies Freeport tie-up in the works
Barrick Gold (NYSE: GOLD) is not looking to merge with copper miner Freeport-McMoran, CEO Mark Bristow said on Thursday, although he is interested in the company’s Grasberg mine in Indonesia, and indicated he wants to expand in the Pacific Rim.
Rumours the world’s second-largest gold miner planned to combine with Freeport are “completely wrong,” Bristow told Reuters on the sidelines of the Mining Indaba conference in Cape Town.
But he said he was interested in Freeport’s Grasberg mine in Indonesia – the world’s largest gold mine, and second-largest copper mine.
“People say, are you interested in Grasberg? I say I have to be, it’s a tier one asset,” he said. Tier one assets refer to high-grade, long-life mines.