Barrick in talks on further asset sales, but no spinoffs

|About: Barrick Gold Corporation (ABX)|By:, SA News Editor

More on Barrick Gold (ABX +1.4%) at the Denver Gold Forum: Jamie Sokalsky says the miner is in talks on further asset sales, especially mines that are relatively high cost, have shorter mine lives and limited opportunity to expand through exploration; some of its remaining assets in Australia fit that profile, the CEO says. (earlier)

Though some analysts have suggested ABX should spin off assets instead of selling them into a tough market, Sokalsky says more spinoffs are not on the agenda, due to tax considerations and administrative requirements.

On African Barrick (ABGLF.PK, ABGLY.PK), Sokalsky says he is focused on improving operations there and not on a quick sale, and that ABX does not have a timetable for selling its stake.