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Investing.com -- Barrick Gold Corporation (NYSE:B) stock rose 4% Friday afternoon following a Bloomberg report that Newmont Corporation (NYSE:NEM) is exploring a potential deal to acquire Barrick’s Nevada gold mining assets.
According to the report, Denver-based Newmont is in the early stages of evaluating transaction structures that would allow it to gain full ownership of the Nevada gold mines, where it currently holds a minority stake in a joint venture operated and majority-owned by Barrick.
The Nevada gold mines are considered among Barrick’s most valuable assets, and it remains unclear whether the Canadian mining company would be receptive to any acquisition offers. Bloomberg cited people familiar with the matter who indicated Newmont might consider various options, including bidding for Barrick’s stake in the joint venture or potentially pursuing a full takeover of Barrick followed by divestment of assets it considers non-core.
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