World’s top gold miners locked in standoff in Australian outback

Deep in the heart of Australia’s dusty outback, the world’s biggest gold mining companies are locked in a standoff. At the centre of the impasse is a 50% stake in the country’s largest openpit gold mine, known as the Kalgoorlie super pit. Barrick Gold, the No. 1 bullion producer, wants to sell its 50% holding of the pit. Newmont Mining, which stands at No. 2 and already owns half the mine – and operates it – wants to buy. That’s where the simplicity ends.