View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
April 26, 2011

Barrick Gold to Acquire Equinox for $7.6bn

Barrick Gold has entered into a support agreement to acquire all issued and outstanding common shares of Equinox Minerals in a takeover offer valued at C$7.3bn ($7.6bn). Equinox assets include the 100% owned Lumwana mine in Zambia and the 70% owned Jabal Sayid development project in Sa

By cms admin

Barrick Gold has entered into a support agreement to acquire all issued and outstanding common shares of Equinox Minerals in a takeover offer valued at C$7.3bn ($7.6bn).

Equinox assets include the 100% owned Lumwana mine in Zambia and the 70% owned Jabal Sayid development project in Saudi Arabia.

The Lumwana mine consists of £4.5bn of copper reserves along with an additional £5.5bn of inferred copper resources, and Jaybal Sayid consists of £1.2bn of reserves.

Barrick Gold president Aaron Regent said the acquisition would position Barrick with significant production growth potential in two of the most prolific copper-producing regions of the world.

“This will be in addition to our targeted growth in annual gold production to 9 million ounces within the next five years,” Regent said.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology