Seeking Alpha

Barrick in talks on further asset sales, but no spinoffs

  • 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.
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