Gold miner Newmont CEO says focused on business, not Barrick

Tue Sep 16, 2014 5:08pm EDT
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DENVER, Sept 16 (Reuters) - There is "nothing" in the works between Newmont Mining Corp and Barrick Gold Corp , Newmont's chief executive said on Tuesday, six months after talks to merge the world's two biggest gold producers foundered.

Newmont CEO Gary Goldberg said he has not held any merger discussions with Barrick since April and that Denver-based Newmont was focused on other things.

"What we are doing from our side is continuing to run our operations, deliver at or better than what we have put out for guidance and work on developing our own portfolio," he told Reuters in an interview at the Denver Gold Forum, an industry event.

Last month, Goldberg told reporters in Melbourne that he was open to resuming discussions about a potential merger with Barrick.

"We are always open to consider opportunities for value, but there is nothing in that area going on," Goldberg said on Tuesday.

In July, Barrick Chairman John Thornton said the miner remained open to a tie-up with Newmont, but made it clear that a deal was not his current focus.

This year's talks were the third time in a seven-year period that Barrick and Newmont seriously contemplated a merger.

Analysts say merging the two miner's large, overlapping operations in Nevada could result in cost savings of between $500 million and $1 billion. (Reporting by Nicole Mordant, editing by G Crosse)