Newmont Mining and Barrick Gold have consulted on a possible joint venture in their operations in the US state of Nevada. Newmont stated to business newspaper Financial Times that the discussions were ‘constructive’.
On Monday, Newmont rejected Barrick’s hostile takeover bid worth nearly $ 18 billion because the company sees more benefits in its merger plan with the Canadian Goldcorp. American Newmont is open to cooperation in Nevada, where the mining company has significant operations, just like the Canadian Barrick. By working together, the companies can save a lot of costs there.
Newmont has made a preliminary proposal for a joint venture in Nevada, of which Barrick would own 55 percent and Newmont the rest. The top men of both companies had a dinner in New York on Tuesday evening to talk about the matter.
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