Barrick Gold is not interested in bidding for Anglo American, CEO says

FILE PHOTO: Mark Bristow , CEO of Barrick Gold ​Co speaks during an interview at the African Mining Indaba 2022 conferenceTORONTO - Barrick Gold is not interested in bidding for Anglo American , which last week received a $39 billion takeover offer from BHP, and is building its own copper portfolio, the Canadian miner's CEO Mark Bristow said on Wednesday.

Analysts and investors expect rival bids to emerge after BHP's offer was rejected last week by Anglo, which said it was opportunistic, significantly undervaluing the company and its future prospects."We are not interested in bidding for Anglo American, as we are building of our own," Bristow told Reuters.

Barrick is in talks with the International Finance Corporation and other agencies to raise at least $2 billion for the first phase of the project, Bristow added. In Mali, where Barrick has a gold mine, the military-led government was last year in talks with miners over a change to its mining law that could see it boost state and private Malian interests in new projects to 35% from up to 20% previously.

Mark Bristow Anglo American Copper Miners Reko Diq

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