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Newmont Keen on Barrick Australia Stake as It Shuns U.S. Mines

Newmont Mining Corp. may be interested in some of Barrick Gold Corp.’s assets -- just not the ones it’s currently trying to sell.

After taking over operations this year at the Kalgoorlie Super Pit in Western Australia, Newmont would be interested in buying out Barrick’s 50 percent stake, Chief Executive Officer Gary Goldberg said Tuesday in an interview at the Denver Gold Forum. Mines in Nevada that Barrick is marketing are not of interest to the Greenwood Village, Colorado-based company, he said.

Gold’s more than 40 percent slump from a 2011 peak has miners scrambling to adapt in slightly different ways. Some, like Toronto-based Barrick, are downsizing to focus on key assets. Others such as Goldcorp Inc. are building war chests for future growth. In Newmont’s case, the focus is on improving asset quality as well as selectively seeking acquisitions, Goldberg said.

“That’s one asset that we know pretty well and...