According to relevant sources, Song Xin, general manager of China National Gold Group, said that the company is negotiating a partnership with Canada's Barrick Gold Corp. and Newmont Mining. If this partnership can be established, Barrick and Newmont will be closer to the Chinese market, the world's largest gold consumer.
The newly appointed Barrick Chairman, John Thornton, was a senior executive of Goldman Sachs, a US investment bank. He had a deep relationship with China. The founder of Barrick had a fancy that he and China had this kind of friendship and invited him to join. Thornton is also very optimistic about the Chinese market, so the alliance with China Gold Group will help achieve his goal of deep involvement in the Chinese market.
However, Song Xin refused to explain the specific content of "building a partnership". It is only abstractly stated that during the meeting in Miami in February this year, the three parties discussed the issues of project cooperation, joint investment and cost reduction. Barrick and Newmont declined to comment.
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