Barrick Gold ends talks with China Gold over African Barrick

Tue Jan 8, 2013 2:18am EST
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LONDON Jan 8 (Reuters) - Barrick Gold Corp said it is no longer in talks with state-owned China National Gold Corp to sell it a stake in its majority-owned, London-listed gold producer African Barrick Gold.

Canadian mining major Barrick Gold, which owns 74 percent of African Barrick, said in August it was in early-stage talks with China National Gold about the possible sale of all or part of its stake.

"We are approaching this in a prudent and disciplined manner and will only proceed with opportunities that generate acceptable value for Barrick," Barrick Gold's chief executive Jamie Sokalsky said in a statement on Tuesday.