China National Gold moves closer to making a formal offer for Barrick Gold's (ABX -1.1%) 74%...

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

China National Gold moves closer to making a formal offer for Barrick Gold's (ABX -1.1%) 74% stake in its African Barrick subsidiary, FT reports, as detailed price talks are expected to start in the next two weeks. China's appetite for gold seems to be growing: It has imported ~458.6 metric tons YTD to September, 4x the amount it bought from overseas in the preceding year.