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Reuters exclusively reports that Barrick not interested in bidding for Teck’s copper assets

Business & FinanceDeals

Reuters was first to report that Barrick Gold Corp is not interested in buying Canadian miner Teck Resources’ copper business. Barrick CEO Mark Bristow told Reuters in an exclusive interview that the world’s second-biggest gold miner would instead expand its copper business through organic growth. Bristow sighted lack of synergies and Teck’s debt load for his decision not to pursue the business. 

Market Impact

Earlier on Wednesday, Barrick beat Wall Street expectations for first-quarter profit, as higher gold prices outweighed a decline in production. Barrick shares were up 1.2% by late morning, in a flat broader market. 

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & Finance

Regions: Americas

Countries: Canada

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story


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