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"Newmont has previously determined that Barrick's risk and return profile is inferior on many fronts, including factoring Barrick's comparatively ineffective operating model, poor track record on delivering shareholder returns and unfavorable jurisdictional risk," Newmont said.

Barrick goes after Newmont to create $42 billion gold giant →

Newmont says it started notifying the union representing the workers to be laid off earlier this week.

Newmont plans 120 layoffs in northeast Nevada by March →