Barrick Gold looking to buy more mines - CEO

But, AaronRegent, speaking at a conference in Chile, declined to comment onpotential interest in Exeter

Posted:Friday,09 Apr 2010

SANTIAGO (Reuters) -

The world's largest gold miner Barrick Gold (ABX.TO) islooking to buy more mines, chief executive Aaron Regent said onThursday, but he declined to comment on potential interest in juniorminer Exeter (XRC.TO).

Exeter's chief geologist said this week the company had signedconfidentiality agreements with several parties including Barrick thatare interested in the Caspiche project in Chile, although a companylawyer said the firm was not in deal mode or active discusions.

The Caspiche project is located in the Maricunga Belt of Chile,between Barrick and Kinross Gold's Cerro Casale gold-copper deposit 10kilometres to the south and Kinross Gold's Maricunga Mine 15 kilometresto the north.

"In terms of corporate development, we're active, looking to grow thebusiness by acquiring additional mines," Regent told Reuters in theChilean capital. He noted the company is investing in its existingprojects as well. Asked about Exeter, he decline to comment.

"In terms of M&A, we'll benchmark the opportunities that are outthere against what we have in the pipeline."

Regent also reiterated that it hoped to ramp up its $3 billionPascua-Lama silver-gold mine by 2013, a long-stalled development but onewhose vast silver reserves will cover the cost of production, "so youget the gold for free".

Barrick also shared the view of its joint-venture partner Antofagastathat it could bring online its Reko Diq Pakistan project by 2015, withan aim to conclude all necessary permits and agreements over the nextsix to 12 months, he added.

"There's not much flexibility to move that forward," he said.

In Peru, Barrick has managed to extend the life of its Pierina goldmine in Peru by a year to 2013, and was working to extend the life ofits Lagunas Norte development beyond the current 2017 end date.(Reporting by Jonathan Leff and Fabian Cambera; Editing by DavidGregorio)