Tie-up creates mining monster

Randgold Resources and Canada’s Barrick have agreed to merge in a deal that will create an $18.3 billion (£14bn) gold mining giant.

Barrick shareholders will own around 66.6 per cent of the new combined firm, while Randgold shareholders will hold the remaining 33.4 per cent. The tieup, unveiled yesterday, will create a mining titan that owns five of the world’s top-ten tier one gold assets.