Merged Barrick-Randgold eyes nine tier-one gold assets

Gold major Barrick Gold chairperson John Thornton has urged shareholders to vote in favour of its $6.1-billion transaction with Africa-focused Randgold Resources, telling investors that the combined entity will have five of the world’s ten so-called tier-one assets and that this could be expanded in a short space of time.

In a conference call discussing the group’s third-quarter results, Thornton outlined how the merged company could add another four mines to its list of tier-one assets, defined as those producing more than 500 000 oz/y, with a minimum mine life of 10 years and in the lower half of the cash cost curve.