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Barrick Mining considers splitting into two entities | The Express Tribune

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Barrick Mining considers splitting into two entities | The Express Tribune


Pakistan has already chalked out a $1.9 billion funding plan to execute the Reko Diq copper and gold mining project. Total project funding has been estimated at $4.297 billion. Photo: File


TORONTO:

The board of Canada’s Barrick Mining has raised the possibility of splitting the company into two separate entities, one focused on North America and the other on Africa and Asia, four sources familiar with the company’s thinking told Reuters.

A split could also include the outright sale of Barrick’s African assets as well as of the Reko Diq mine in Pakistan, once it has secured financing, according to the sources. In Mali, Barrick is looking to resolve a dispute with the African nation’s military administration before selling the asset, sources said. Talks are ongoing and nothing has yet been finalised, the sources said.

The plans, if they go through, would essentially reverse Barrick’s merger with Randgold in 2019, and shed assets brought in by former CEO Mark Bristow.

The company’s focus on North America, including Fourmile, a major undeveloped gold mine in Nevada, would ensure that Barrick does not get undervalued in case of a potential takeover offer, one of the sources said.



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Ryanair flight from Milan to Manchester leaves passengers behind due to border delays

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Ryanair flight from Milan to Manchester leaves passengers behind due to border delays



New European border rules have caused delays at airports across the continent, affecting flights.



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‘A win-win for both nations!’ Three-day India-US trade talks to begin this week – The Times of India

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‘A win-win for both nations!’ Three-day India-US trade talks to begin this week – The Times of India


India and the United States are set to resume trade talks this week, taking a “great step to finalize” the proposed agreement. Taking to social media platform X, US Ambassador to India Sergio Gor said “The Indian trade delegation will be arriving in Washington this week. A great step to finalize our bilateral trade deal. A win-win for both nations!”This week, a delegation of around a dozen officials will be travelling from New Delhi to Washington for discussions on the first phase of the proposed bilateral trade agreement (BTA). The talks are scheduled from April 20 to 22 and will be led by India’s chief negotiator Darpan Jain, additional secretary in the department of commerce. The team will also include officials from the customs department and the ministry of external affairs.The negotiations come against the backdrop of recent changes in the US tariff system, prompting both sides to revisit parts of the trade agreement finalised earlier this year and released on February 7.A key development was the US Supreme Court striking down reciprocal tariffs imposed under the 1977 International Emergency Economic Powers Act. Following this, the US administration introduced a temporary flat 10% tariff on all countries for 150 days from February 24.These changes led to the postponement of a planned February meeting between the chief negotiators. The rescheduled talks in Washington will now proceed under the revised tariff framework.Alongside tariff issues, the discussions are also expected to cover two investigations initiated by the US Trade Representative under Section 301 of its trade law. India has refuted the allegations and is seeking withdrawal of the probes, arguing that the initiation notices do not provide adequate justification.



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Oil prices jump after Trump says Iranian ship seized

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Oil prices jump after Trump says Iranian ship seized



Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February.



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