04:35:22 EDT Tue 16 Apr 2024
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,167,158,762
Close 2018-09-25 C$ 14.51
Market Cap C$ 16,935,473,637
Recent Sedar Documents

Globe says Barrick's Thronton makes boldest move yet

2018-09-25 07:09 ET - In the News

The Globe and Mail reports in its Tuesday edition that Barrick Gold executive chairman John Thornton has been a great admirer of Randgold Resources chief executive officer Mark Bristow and has circled him for years. The Globe's Eric Reguly writes that on Monday, the bromance triggered Barrick's $6-billion takeover of Randgold. It was an effective -- though expensive -- way for Mr. Thornton to fill the vacant CEO position at Barrick; Mr. Bristow is to become the head of the enlarged company. Now we know why Mr. Thornton left that position open for four years. As far as he was concerned, there was only one candidate for the job, and that candidate was Mr. Bristow. Mr. Reguly wonders how long the mutual-admiration club can remain intact. China could emerge as a sticking point. Mr. Thornton, a career Sinologist, is stuffing Barrick with Chinese investors and partners. Mr. Bristow prefers to go it alone, a builder who has financed and opened five mines in Africa and who likes to keep control of his projects. He might not want to give up half the show to Chinese resources companies. Another possible minefield is Tanzania, where Barrick controls three mines through its 64-per-cent stake in London-listed Acacia Mining PLC.

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