Merger of Mining Venture Expected
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TORONTO — Two of North America’s largest gold producers are close to signing a major agreement that would consolidate mining at one of the world’s biggest gold fields, industry officials and analysts said Tuesday.
An all-encompassing deal between the leading American gold producer, Newmont Mining Corp., and Canada’s American Barrick Resources Corp. would cover their properties on the Carlin Trend in Nevada.
The Carlin Trend is considered the most important gold discovery this century outside South Africa.
The analysts said a key part of the deal would be joint development of the high-grade Deep Post ore body, which straddles the boundary between Newmont’s and Barrick’s properties.
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