Barrick, Randgold merging to form gold industry 'champion'

By Nick Wright | 03 October 2018 4:05 PM ET

Toronto-based Barrick Gold Corp.'s proposed merger with London-listed Randgold Resources Ltd. would create what the companies term "a new champion for long-term value creation in the gold industry," based on a large share of the world's "Tier One" producing mines, low total cash costs and strong management. Incidentally, the New Barrick Gold Group would become, at least in the short term, the largest global gold producer by volume and by market capitalization. The addition of Randgold's 1.2 million ounces of projected attributable production in 2018 to Barrick Gold's 4.8 Moz for the year pushes the combined entity's production above the 5.2 Moz projected for its closest peer Newmont Mining Corp.