by John Tilak and Nicole Mordant
Barrick Gold Corp, the world’s largest gold producer, is weighing a sale of its majority stake in African unit Acacia Mining Plc and has approached several South African miners, according to sources familiar with the situation.
The potential sale would be part of Barrick’s broader strategy of selling non-core assets to reduce its debt load. The Toronto-based company offloaded stakes in several mines last year.
The talks are at an early stage and there is no assurance a deal will be done, the sources said.
Barrick owns 64 percent of Acacia, a London-listed miner with three producing gold mines in Tanzania: Bulyanhulu, Buzwagi and North Mara. Much of the remainder of Acacia is widely held.