The Globe and Mail reports in its Tuesday edition Barrick Gold says its strategy is no longer about bigger, but about better. The Globe's Boyd Erman writes Newmont plus Barrick would create by a huge margin the world's largest gold miner. There was a time when that would have been sufficient rationale for Barrick, but that is no longer good enough. Shareholders want returns. They want profit from mining companies, not just growth. Barrick has shifted its strategy to reflect that. In the past, Barrick has been an apex predator in the mining ecosystem. It would pay up and employ hostile bids to ensure it got what it wanted. It got Placer Dome by going hostile. It got Equinox Minerals by a topping offer in a frothy market. Barrick today is more restrained. If Barrick bought Newmont for $13-billion (U.S.), that would represent a premium of about 13 per cent. Yet, to ease the way to a friendly transaction, there would be concessions from Barrick such as an almost-balanced board and the chief executive title going to the head of Newmont. Newmont's headquarters in suburban Denver will remain as an operating base for the companies' nearby mines in Nevada. As Barrick is much larger, those are significant gives.