Mining
World’s No. 2 Gold Miner Is Trying to Get Bigger in Copper
- Barrick recently made unsuccessful approach to First Quantum
- CEO Bristow calls copper ‘as strategic as gold is precious’
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For a company with “gold” in its name, Barrick Gold Corp. has become noticeably fixated on copper.
The world’s second-largest bullion producer recently approached First Quantum Minerals Ltd. to discuss a potential takeover, Bloomberg reported last week. And while the move was unsuccessful — Barrick’s informal overtures were rebuffed — its interest in buying a $17 billion copper miner provides the starkest evidence yet of a shifting focus at the company whose origins lie in Nevada’s gold veins.