third acquisition followed in early 1999, when Barrick Gold acquired Sutton Resources Ltd., assuming ownership of properties in Tanzania. In 2001, Barrick acquired Homestake Mining Company for $2.3 billion in stock, then one of the oldest mining companies in the United States. The purchase made Barrick the second-largest gold producer in the world. Placer Dome acquisition In December 2005, Barrick launched a hostile takeover bid valued at US$9.2 billion for rival Canadian gold miner Placer Dome. The $10.4 billion transaction closed in December 2006. The procurement made Barrick the owner of the Porgera Gold Mine in Papua New Guinea. Shortly after the merger, Barrick, seeking increased profitability, terminated many of the staff at Placer Dome who led the community relations work. 2006 to present African Barrick Gold In February 2010, Barrick Gold announced plans to create a separate company to hold its assets in Tanzania, called African Barrick Gold. Barrick Gold would retain majority ownership in the new company, after its listing on the London Stock Exchange (LSE). African Barrick Gold was listed on the London Stock Exchange in mid-March 2010, with an IPO valuation at US$3.6 billion. The shares offered on the LSE raised just more than 500 million pounds. In June the company was admitted to the FTSE 100 Index. Equinox Minerals In April 2011, Barrick beat a takeover offer for Equinox Minerals by China Minmetals. Shandong Gold In 2018, John L. Thornton orchestrated a strategic “trust-based relationship” between Barrick Gold and Shandong Gold Group, a Chinese state-owned enterprise, establishing joint ownership of the Veladero mine to capitalize on Shandong's investor base, capital suppliers, political connections, and regional influence. In the press release announcing the partnership, Thornton said that Barrick and Shandong were looking forward to “sharing… capital in ways that will create added value for our respective owners, and our government and community partners in San Juan province”. Randgold Resources In September 2018, Barrick Gold announced an all-stock merger with Randgold Resources in a deal valued at $6.5 billion. Immediately following the announcement of the merger, Randgold shares rose 6% and Barrick shares rose 5.6%. The deal created the world's largest gold producer with the new company listed on the Toronto Stock Exchange and New York Stock Exchange. The companies began talking about a combination in 2015 and the deal was orchestrated by Barrick Executive Chairman John L. Thornton and Randgold Founder and CEO Mark Bristow. Newmont