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WASHINGTON (Reuters) – Lockheed Martin Corp will receive the first payment toward the installation a $15 billion missile defense system in Saudi Arabia as part of a $110 billion arms package the Trump administration said it negotiated with the Kingdom in 2017, the Pentagon said on Monday. The Pentagon awarded Lockheed a $946 million payment for the foreign military sale selfridges cufflinks. In November, the Saudis and U.S. officials signed the letters of offer and acceptance formalizing terms for Saudi’s purchase of 44 THAAD launchers, missiles and related equipment..
As a part of the scope of work outlined by the Pentagon, obsolete systems currently in place will be updated to prepare the current Saudi missile defense infrastructure for the new Terminal High Altitude Area Defense (THAAD) technology selfridges cufflinks. The contract also allows Lockheed to pay for materials, tooling and engineering development among other work. The Pentagon announced the payment as an “undefinitized contract action,” a partial payment that will go to Lockheed Martin and prevent major delays in production of the new missile defense system in Saudi Arabia..
(Reuters) – Barrick Gold Corp Chief Executive Mark Bristow said on Monday he wants to speak immediately with Newmont Mining Corp about a proposed Nevada joint venture, even as his company moves to take a $18 billion takeover offer directly to Newmont shareholders. Newmont earlier on Monday rejected Barrick’s full buyout offer and reiterated its plans to go ahead with its deal to buy smaller rival Goldcorp Inc selfridges cufflinks. Newmont’s JV proposal, unveiled Monday, seeks to combine adjacent mines and other facilities in Nevada. While the logic of integrating operations seems clear to both Barrick and Newmont, the sticking point has been control..
“We will definitely engage Newmont immediately to see if they have a genuine commitment to this discussion around unlocking the synergies of Nevada,” Bristow told Reuters selfridges cufflinks. Asked for comment, Newmont spokesman Omar Jabara said in an emailed statement that his company “looks forward to hearing back from Barrick on our letter (rejecting Barrick’s offer) and joint venture proposal.”. Neither side seems to agree on the full value of the Nevada assets. Newmont’s JV proposal uses publicly available materials to estimate value, as neither side has sat down to formally hash out how a JV could work..
In a Reuters interview, Bristow said that based on the consensus estimates for Barrick’s assets in Nevada, his company should control at least 66 percent of any joint venture, compared to the 55 percent Newmont proposed. Newmont’s JV proposal includes some assets in Colorado, which does not border Nevada selfridges cufflinks. The proposed Barrick deal for Newmont would combine two of the biggest gold producers in the world at a time when both companies are trying to bolster shrinking gold reserves to boost growth as well as take advantage of rising prices..