Canada’s Barrick Gold ls buying Randgold Resources, creatin the world’s biggest gold miner with a value of about lflbn i£14bn). The firms own some of the world’s most valuable gold

Canada’s Barrick Gold ls buying Randgold Resources,
creatin the world’s biggest gold miner with a value of
about lflbn i£14bn). The firms own some of the world’s most valuable gold fields,
producing more than 6.6 million ounces of gold a year. Barrick
shareholders will end up owning two-thirds of the combined
firm and Handgold will own the remaining third. Shares of both
firms have fallen almost Stilt this year, amid falling gold prices
and questions over their strategy. "Eiur Industry has been
criticized for its short-term focus, undisciplined growth and
poor returns on invested capital. The merged company will be
very different," said Mark Brlstow, Chief Executive of Handgold.
"Its goal will be to deliver sector leading returns, and In order to
achieve this, we will need to take a very critical view of our
asset base and how we run our business, and he prepared to
make tough decisions," be added. The price of gold has fallen
more than 3% this year, putting all gold producers under
pressure. 1.] type df merger is happening?
2.] Why are these companies merging? 3.] Why Is price of gold dropping?

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