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(Reuters) – Barrick Gold Corp (Canada)ABX.TO) and the African mining company Randgold Resources Ltd (RRS.L) are in the advanced phase of negotiations to merge their operations, Bloomberg reported on Sunday, citing sources.
An agreement on the merger of the two mining companies is imminent, had already reported a blog, IKN. bloom.bg/2QUaYa7
Andy Lloyd of Barrick Gold declined to comment. Randgold Resources did not immediately respond to a request for comment.
Barrick based in Canada, the majority shareholder of Acacia Mining Plc (ACAA.L), concluded a framework agreement last October with Tanzania that was supposed to solve a tax dispute. Under the agreement, Acacia would pay $ 300 million to the Tanzanian government, sell a 16% stake in its mines, and distribute the "economic benefits" of the operations.
In June, Barrick was unable to set a new deadline for ending negotiations to end the tax dispute in Tanzania after failing to reach a mid-term target.
According to Thomson Reuters I / B / E / S, the market capitalization of Barrick Gold is C $ 18.78 billion ($ 14.53 billion) and Randgold Resources' £ 4.6 billion ($ 6 billion). $ 02 billion).
Reportage by Mekhla Raina in Bangalore; Editing by Will Dunham
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