Barrick Gold (NYSE: ABX) has returned to the table with two important announcements.

The Executive Chairman announced during a press conference that after three years of  negotiations, an agreement has been reached with Randgold Resources Limited to create a merger valued at US$6 billion (in shares), which would make the new company the world’s largest gold producer.

Barrick Gold’s annual gold production fell to 5.3 milion oz, after reaching 8 million oz during the previous decade. In recent months, the company has been caught in a crisis that has forced it to sell assets and mining interests to reduce debts and costs. Now cash flow from Randgold will help to settle Barrick’s debts and will support investments in America and the Dominican Republic.

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