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Tuesday, August 3, 2010

Barrick (NYSE:ABX) Says Not In Running for Lihir Gold (Nasdaq:LIHR)

The list of companies in the running to acquire Lihir Gold (Nasdaq:LIHR) in Australia is shrinking, as mining giant Barrick Gold (NYSE:ABX) let it be known they're no longer interested in the gold miner.

It seems Newcrest Mining (ASX:NCM) is emerging as the sole company of interest, with a bid of $A9.7 billion.

There has been speculation in the past of Newmont Mining (NYSE:NEM) being a suitor of Lihir, but for now they've elected to make no comment on what they consider speculation.

Lihir had created an online marketplace for companies interested, looking to generate an enlarged interest in the company in order to increase the bidding price. So far that hasn't worked, although if there is any other interest, it will have to reveal itself sometime soon.

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