Apr 25 32 Barrick to Buy Equinox for C$732 Billion Topping Minmetals Bid Christopher Donville and Sean B Pasternak The deal would be the second largest acquisition by Barrick As a result of such acquisition Barrick and its affiliates now collectively own 879 495 876 Equinox Shares representing 100 of the outstanding Equinox Shares on a fully diluted basis
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This acquisition would position Barrick with significant production growth potential in two of the most prolific copper producing regions of the world announced on Tuesday that it was dropping its nearly $63 billion bid for Australian Canadian copper mining company Equinox Minerals Ltd Regent President and CEO of Barrick said The acquisition of Equinox would add a high quality long life asset to our portfolio and is consistent with our strategy of increasing gold and copper reserves through exploration and acquisitions
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John Thornton a former Goldman Sachs investment banker and president who is now Barrick’s executive chairman admitted last August that Equinox was one of the worst deals in mining history ELKO Barrick Gold Corp said today the company plans to buy Equinox Minerals Ltd for roughly $768 billion to give the gold producer a copper mine in Zambia and a copper project in Saudi Arabia
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Equinox Minerals is a mining and exploration company with corporate offices in Perth Australia and Toronto Ontario Canada It has operations in Peru and Australia In Zambia it owned the Lumwana Mining Company but that was bought by Barrick Gold in “The acquisition of Equinox would add a high quality long life asset to our portfolio and is consistent with our strategy of increasing gold and copper reserves through exploration and acquisitions ” said Regent president and CEO Barrick Gold
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Regent President and CEO of Barrick said The acquisition of Equinox would add a high quality long life asset to our portfolio and is consistent with our strategy of increasing gold and copper reserves through exploration and acquisitionsBarrick To Buy Equinox Mon 04/25/ 10 19am Comments the offer is not subject to a financing conditions since it has sufficient cash and committed financing to fund the acquisition Equinox is listed on the Toronto and Australian stock exchange and has corporate offices in both countri Economics Advertisement
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Barrick Gold to acquire Equinox Minerals for $73B The acquisition of Equinox would add a high quality long life asset to our portfolio and is consistent with our strategy of increasing gold The company s first acquisition was the Renabie mine near Wawa Ontario Barrick beat a takeover offer for Equinox Minerals by China Minmetals Acacia Mining Plc formerly African Barrick Gold plc is owned by Barrick and operates three mines in Tanzania Asset Country Barrick stake Type of mine
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Barrick already owns the Zaldivar copper mine in northern Chile the No 1 copper producing country so the acquisition of Equinox would provide it with access to two of the most prolific copper Canopy acquires hemp company AgriNextUSA ramping up US expansion Saskatchewan eliminating deductions on potash production tax Barrick s past Equinox deal a lesson for latest Newmont pursuit By Andrew Bell Barrick s aggressive bid is coming at the right time Shareholder
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Barrick itself was responsible for one of those — the acquisition of Equinox Minerals in which executive chairman John Thornton qualified as if not the worst one Barrick already owns the Zaldivar copper mine in northern Chile the No 1 copper producing country so the acquisition of Equinox would provide it with access to two of the most prolific copper
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Apr 25 32 “The acquisition of Equinox would add a high quality long life asset to our portfolio and is consistent with our strategy of increasing gold and copper reserves through exploration and acquisitions ” Regent chief executive of Barrick said in a statement adding in a conference call that it was a way to “deploy a portion of our Barrick bought Equinox amid a heated takeover battle that lasted more than four months and involved five different compani While Barrick paid a high price it knew that Lumwana contained a huge copper resource and figured it could be mined at a competitive cost
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On Sept 24 Barrick Gold announced the acquisition of Randgold Resources in one of the most unique transactions in gold mining The offer is all equity with each Randgold share entitled to Apr 25 32 Given the immediate value creation opportunity we are recommending our shareholders tender to the Barrick Offer The support agreement between Barrick and Equinox
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Jul 19 32 As a result of such acquisition Barrick and its affiliates now collectively own 879 495 876 Equinox Shares representing 100 of the outstanding Equinox Shares on a fully diluted basisIt is The size of the acquisition Barrick’s biggest since buying copper producer Equinox Minerals Ltd for US$73 billion in also caught some by surprise
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