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goldbarsMOSCOW: Russia's biggest gold producer Polyus Gold is in merger negotiations with the world's top gold miners, Newmont Mining Corp , Newcrest Mining and AngloGold Ashanti, the business daily Vedomosti reported on Friday.

The newspaper, citing sources close to Polyus' shareholders, reported that a merger with Newmont or Newcrest would elevate the merged company to become the world's second biggest gold miner in terms of capitalisation.

A merger with AngloGold Ashanti would create the world's third or fourth largest gold miner.

Polyus is the world's eight largest gold producer in terms of market capitalisation.

Headquartered in Denver, the United States, Newmont Mining has assets or operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico.

Newcrest Mining is Australia's largest gold producer, operating seven mines in Australia, Indonesia and Papua New Guinea.

AngloGold Ashanti, headquartered in Johannesburg, South Africa, is Africa's largest gold miner and has assets and operations in 11 countries.

Late last month, Polyus said that it may merge by the end of 2011 with a global gold market player.

Copyright Reuters, 2011

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