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Global: Top gold miners backtrack on merger plans

 |  April 28, 2014

Weeks after speculation mounted over an upcoming merger, reports say the world’s largest gold miners Barrick Gold and Newmont Mining have decided to end talks without striking a deal.

Top gold producer Barrick, based in Canada, will not merge with US-based Newmont after the latter ended discussing in favor of remaining independent. Reports say the companies had been discussing a possible deal on-and-off for more than two decades.

Sources reported April 19 that the companies had estimated cost savings of about $1 billion with a merger.

Full content: Bloomberg

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