China National Gold says it's talking to Barrick about potential partnerships

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

China's largest gold mining company, China National Gold, is on the hunt for global acquisitions and partnerships, and recently talked about potential partnerships with Barrick Gold (ABX +0.3%), President Xin Song says.

Both parties are looking for potential opportunities jointly, Song says, but those are not likely to include an investment in the Pascua Lama mine ABX has put on hold amid cost overruns and environmental demands from Chile's government; the the project has several challenges, including its high elevation, its permitting troubles and high capital expenditure.

China National is no longer in talks with Ivanhoe Mines (IVPAF) on African investment, Song says.