Peter Munk built Barrick Gold Corp. into the world’s largest gold producer by expanding into Africa and South America. Now former Goldman Sachs Group Inc. President John Thornton is betting on China to help revive the beleaguered company’s fortunes.
Barrick Gold Corp. is reversing the fortunes of suffering bondholders with the industry’s highest returns as a stock sale and pledge to suspend construction leave it poised to produce more excess cash than competitors.
More U.S. companies are luring top executives with multimillion-dollar “golden hello” signing bonuses, undeterred even as high-profile flameouts such as Ron Johnson’s short tenure at J.C. Penney Co. expose the risks.
Goldcorp Inc. and Barrick Gold Corp., the largest producers of the metal by market value, are trying to sell their jointly owned Marigold mine in Nevada, according to two people with knowledge of the sale process.
Barrick Gold Corp. is raising at least $3 billion in Canada’s biggest equity issue since 2009 and shelving its embattled Pascua-Lama project as the miner scrambles to reduce debt after the metal plunged this year.
Barrick Gold Corp. has explored cash-raising options ranging from a strategic equity investment to a sale of part of its copper business during a months-long effort to cut debt, said people with knowledge of the matter.