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Newmont Mining Board Rejects Barrick Offer

Newmont Mining’s board of directors has voted to reject a proposed purchase by Barrick Gold. 

The company said today that the all-stock proposal was not in the company’s best interest.

Newmont also said it planned to proceed with its deal to acquire Goldcorp Incorporated, which would make it the largest gold producer in the world, just ahead of Barrick. 

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Newmont also proposed a joint venture with Barrick in Nevada. That venture would give Barrick a 55 percent stake in the new entity, with the companies sharing equally in management.