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Oct 25, 2016

FROM GATA | THE GHATA DISPATCH:: Chinese Miners In Talks for Stake in Barrick¿s Veladero Mine, Reuters Says

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

Submitted by cpowell on 12:01AM ET Wednesday, October 26, 2016 By John Tilak and Nicole Mordant
Tuesday, Otober 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: