Newmont Mining Corp (NYSE:NEM) has expressed interest in buying some of Barrick Gold Corp.’s assets. However, NEM is reported to be eyeing the Barrick’s mines in Australia, rather than the ones it’s currently selling in the US. Analysts believe that the move is driven by the recent purchase of Kalgoorlie Superpit in Western Australia.

The CEO of Newmont, Gary Goldberg, stated that his company is not interested in the Nevada mines that Barrick Gold is currently trying to sell. He further went on to express his interest in acquiring a 50% stake in Barrick Gold Corp. Both companies had recently suffered huge losses, following the decline of gold prices, by more than 40%. Consequently, Barrick Gold is trying to reduce costs by downsizing, while Newmont is trying to improve its asset quality.

The use of different strategies could be one of the reasons why the two companies have failed to reach a merger agreement over the past decade. The latest discussions for a merger ended in April 2014, resulting in each company blaming the other. Additionally, Mr. Goldberg recently stated that his company was not interested in resuming talks with Barrick Gold, at the moment.

Furthermore, the CEO also provided an update on Newmont’s operations in Indonesia. He stated that the company plans to provide the mining ministry with the required documentation for the renewal of its export permit, by sometime in the coming week. The CEO also assured the investors that operations in the country were running at full capacity and the government had not asked NEM to be listed on the local exchange as yet.

Gold prices have also begun to rise once again, as the US dollar starts its decline. The movement was triggered by the possibility of an announcement regarding the timing of an interest rate hike by the Feds. As a result, NEM has been awarded a hold rating by some analysts.

Newmont Mining Corp (NYSE:NEM) closed at a share price of $16.78, after reporting a surge of 7.91% during the September 24 session and trading a total volume of 11.65 million shares.