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Chinese miners in talks for stake in Barrick’s Veladero mine, Reuters says

Tuesday, October 25, 2016 20:46
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(Before It's News)

gata.org / By John Tilak and Nicole Mordant, Reuters / October 25, 2016

China’s Zijin Mining Group Co. Ltd. and Shandong Gold Mining Co. Ltd. have held separate talks with Barrick Gold Corp. to buy a 50-percent stake in its Veladero gold mine in Argentina, according to four sources with knowledge of the process.

Veladero is one of Barrick’s five core mines; all are in the Americas. It is expected to produce between 580,000 and 640,000 ounces of gold this year.

The high quality of the mine, production capacity, and the prospect for geographical diversification have appealed to the state-owned Chinese suitors, said three of the sources, who requested anonymity because the matter is private. All spoke over the past week. …

… For the remainder of the report:

http://www.reuters.com/article/us-barrick-gold-argentina-idUSKCN12P2QD

SOURCE

The post Chinese miners in talks for stake in Barrick’s Veladero mine, Reuters says appeared first on Silver For The People.

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