Barrick mulls options to raise cash, reduce debt: sources

Barrick Gold (ABX.TO), which is attempting to reduce its debt load, is considering a wide range of options from a strategic equity investment to further streaming deals that yield upfront cash, according to several sources familiar with the situation. A spokesman for Barrick declined to comment on the matter. One source said Barrick's management has met with top fund managers in Asia and the Middle East to gauge the interest in a possible private placement-style equity deal, in order to raise capital and bring on board a large, long-term strategic investor as a move to boost market confidence in the company. Such a move would be similar to the one taken by diversified miner Teck Resources Ltd (TCK-B.TO), which in 2009 sold a roughly 17 percent stake in itself to Chinese sovereign wealth fund, CIC or China Investment Corp. At the time, Vancouver-based Teck was struggling under a massive debt load as it acquired Fording Coal for $14.1 billion, just as the global financial crisis began and commodity prices imploded.

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