Something similar is happening to Barrick Gold Corp. and Newmont Mining Corp. in Nevada. The companies have been circling each other for three decades, and the last major attempt to combine broke down in 2014. Were gold to suddenly fall to $1,000 an ounce, the vast majority of what Newmont produces in the state would be unprofitable. Assume the two companies were to spin off their Nevada mines, with third-party shareholders putting in an extra $5 billion via an initial public offering. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.

Source: Washington Post March 05, 2019 06:33 UTC