Barrick Boss Flies Coach as Top Miner Staves Off Junk Rating
- Company has had `exceedingly high' interest for U.S. assets
- Eliminating dividends altogether is unlikely, Dushnisky says
Barrick Gold Is Not for Sale: Dushnisky
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Barrick Gold Corp. has a road map to avoid following other miners into junk credit-rating status as the largest bullion producer extends cost-cutting, partnerships and asset sales, said President Kelvin Dushnisky.
In his first since becoming sole president last month, Dushnisky said Barrick is 90 percent through a $3 billion debt-reduction plan and has had an “exceedingly high” level of interest for its U.S. assets up for sale. While eliminating dividends is unlikely, headcount will continue to shrink, he said. Senior management isn’t escaping the cost cuts with Dushnisky flying economy class from Toronto to the Denver Gold Forum on Sunday.