Deals
Gold Veteran Says Bigger May Not Be Better as M&A Blitz Hits
- Evolution’s Klein says mergers won’t guarantee better returns
- Newmont, Barrick have agreed to add rivals to boost scale
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The $15 billion flurry of deal-making that will super-size the gold industry’s leading producers is no guarantee of better performance, according to an Australian miner who’s been outpacing larger competitors.
Rising gold prices and a hunt to boost additional reserves of the precious metal have spurred Newmont Mining Corp. and Barrick Gold Corp. to acquire rival companies and add more operations. Their moves have stoked expectations that other producers will now also look to combine.