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Barrick Gold Corp
Symbol ABX
Shares Issued 1,751,516,088
Close 2019-02-22 C$ 17.13
Market Cap C$ 30,003,470,587
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Globe says new Barrick boss keen to be gold's disruptor

2019-02-25 08:07 ET - In the News

Also In the News (C-G) Goldcorp Inc (2)

The Globe and Mail reports in its Saturday edition that Barrick Gold has plenty to gain both financially and operationally by absorbing Newmont Mining and creating far and away the largest gold-mining company in the world. The Globe's Jeffrey Jones writes that the benefits for Newmont and its investors from bowing to a $19-billion all-stock offer are not so clear (all figures U.S.). Barrick, fresh from closing its takeover of Randgold Resources, would snap up its top rival, which has mines close to its own in Nevada and Africa, and a balance sheet that it has stewarded responsibly over the past five years. For all his judiciousness, Gary Goldberg, chief executive officer of Denver-based Newmont, would be rewarded with no premium for his shareholders and a demand to scrap the company's own $10-billion acquisition of Goldcorp. Australia's Newcrest Mining could buy Newmont's Australian properties, which are on track to produce 1.5 million ounces this year. The proceeds would more than make up for the $650-million break fee the bulked-up Barrick would owe Goldcorp for leaving it at the altar. It appears Mark Bristow, Barrick's CEO, has decided the sector requires a disruptive force, and it is going to be him.

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