Competition between Barrick Gold and Newmont Mining is intensifying in a trend of consolidation in the gold industry.
Newmont is poised to sign a $10 billion deal to acquire Canadian company Goldcorp. This deal is being reported amid a shift in the business in response to stagnant gold prices.
Barrick announced a $5.4 billion purchase of Randgold Resources last fall, and new CEO Mark Bristow predicted a shake-up in the industry earlier this month.
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If the Newmont/Goldcorp merger goes through, the resulting new company will pull ahead of Barrick in gold production.