According to Reuters, the two companies are likely to acquire a package of six U.S. gold assets, which includes Round Mountain, Bald Mountain, Spring Valley, Ruby Hill, Hilltop and Golden Sunlight assets.Neither Kinross or Newmont would comment.
Barrick President Kelvin Dushnisky hinted on Sunday the company expects to complete a deal by the end of the year.
"We just started it (the sale) but already the level of interest is extremely high," Dushnisky told Reuters in an interview.
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"We initiated the process as a package but we are open-minded. If it makes sense to split it up and we will get better value as a whole for that, we will certainly consider it.”
The deal could bring in between $500 million and $700 million, which would enable Barrick to exceed its $3 billion debt reduction plan this year.
While Barrick isn’t contemplating any more streaming deals or transactions that involve the forward sale of future production at a mine for an upfront payment, Dushnisky told Bloomberg that Barrick would consider any offer that comes it way – including a takeover -- but the company is not for sale.
“We just think we have more value to create for our shareholders,” Dushnisky said. “Barrick is not for sale.”
"While they are valuable assets ... if we can generate more value for our shareholders by those assets being in another company, then we are open-minded to that," Dushnisky said.