Egyptian billionaire Sawiris to look at Barrick’s African gold mines after Randgold merger

Egyptian billionaire Naguib Sawiris has outlined plans to build a new African-focused gold company and said he is keen to buy any gold mines on the continent put up for sale by Canada’s Barrick Gold following its merger with Randgold Resources.

Speaking at the Mines and Money conference in London, Mr Sawiris said he wanted to use Ghana-based gold miner Golden Star, in which he bought a 30 per cent stake in August, as a vehicle to acquire underground gold mines, mainly in east Africa.

Mr Sawiris said he was looking for deposits that could produce between 150,000 to 250,000 ounces of gold a year for a minimum of ten years mine. He highlighted Sudan as an interesting opportunity.

He also told reporters he had met Barrick Gold’s executive chairman John Thornton recently in a lift in New…

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