July 28, 2016 / 11:20 AM / 2 years ago

UPDATE 1-South Africa's Sibanye Gold says no intention to bid for Acacia assets

(Adds Sibanye statement, Acacia share movement)

WESTONARIA, South Africa, July 28 (Reuters) - South Africa’s Sibanye Gold does not intend to make make an offer for the assets of Barrick Gold’s African unit Acacia Mining , it said on Thursday.

Hours after its chief executive told Reuters that Sibanye might have been interested, the company said in a brief statement: “Sibanye confirms that it was considering a possible offer for Acacia, but confirms it is no longer actively considering an offer.”

Barrick Gold, the world’s largest gold producer, is weighing a sale of its majority stake in Acacia and has approached several South African miners, sources familiar with the situation told Reuters this week.

Barrick owns 64 percent of Acacia, a London-listed miner with three producing gold mines in Tanzania: Bulyanhulu, Buzwagi and North Mara. Much of the remainder of Acacia is widely held.

Acacia also has exploration projects in Tanzania and other parts of Africa.

Shares in Acacia were up 5 percent at 602.5 pence at 1049 GMT on the London Stock Exchange. (Reporting by Ed Stoddard and Esha Vaish; Writing by Joe Brock; Editing by James Macharia/Ruth Pitchford)

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