Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Barrick Gold to sell assets, reduce head-office management - WSJ

Published 2018-12-06, 10:02 a/m
Updated 2018-12-06, 10:10 a/m
© Reuters.  Barrick Gold to sell assets, reduce head-office management - WSJ

© Reuters. Barrick Gold to sell assets, reduce head-office management - WSJ

Dec 6 (Reuters) - Barrick Gold Corp ABX.TO will sell a research and development company it owns and reduce its technology staff, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The gold miner expects to close its Randgold Resources Ltd RRS.L purchase Jan. 1, and incoming CEO Mark Bristow has said he plans to sell a variety of noncore core assets, cut costs and shrink head-office management to help delegate more authority to regional mining operations, according to the WSJ report.

In recent months, Barrick has disbanded or shrunk technology based teams at its head office in Toronto and at its mining operations in Nevada, the report said.

One of the first assets to go on the block is Barrick-owned AuTec Innovative Extractive Solutions Ltd, which specializes in testing mineral samples and processing, people familiar with the matter told WSJ. [https://on.wsj.com/2G2VP4S ]

Sham Chotai, Barrick's chief digital officer, left last month, the report said.

Barrick declined to comment when contacted by Reuters.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.