[miningmx.com] – MID-sized gold mining companies are benefiting from pressure on the majors to cut debt through the sale of non-core asssets, said Bloomberg News citing the improvement in the share price for firms such as Australian-listed Northern Star Resources.
“It’s a pretty simple strategy,’ Bill Beament, CEO of Northern Star told Bloomberg News. “That sweet spot in the middle is companies our size. We are the Goldilocks gold producer,’ he said. Northern Star is the best-performing mining company in Australia in the past year after buying up mines worth $166m from Barrick and Newmont.
Barrick Gold sold $1.1bn in assets over the last two years and said this week it was to divest of two mines in Papua New Guinea and Australia. Newcrest Mining, Australia’s largest producer, is also open to offers for its Telfer mine, said Bloomberg News.
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