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Canada-based Barrick Gold Corp. (ABX) is considering selling its troubled North Mara gold mine in Tanzania, Tanzania's This Day newspaper reports Thursday.
The privately owned daily quoted Barrick Chief Executive Aaron Regent as saying that the move is being considered to help finance future acquisitions by the company elsewhere around the world.
"There are assets which I view as being non-core to us. But they are good assets, and I think they have a lot of value or there're opportunities for us to create value," he was quoted as saying on a recent conference call to discuss Barrick's third-quarter financial results.
Regent said that to raise cash, Barrick could sell some of its assets in Tanzania, including the Kabanga nickel project or the North Mara mine which has been dogged by a spate of invasions by locals.
Barrick Tanzania Ltd. wasn't immediately available to comment.
Full Story http://www.thisday.co.tz/News/6468.html
-By Nicholas Bariyo, contributing to Dow Jones Newswires; +256 75 2624615;bariyonic@yahoo.co.uk
(END) Dow Jones Newswires
11-05-09 0348ET
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