Deals
Barrick Says Becoming Debt-Free Within a Decade Is in Reach
- President says company could top $2 billion debt-cutting goal
- Barrick continues to evaluate non-core sales, acquistions
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Barrick Gold Corp., the largest miner of the metal, could be free of debt within a decade on bullion-price gains, cost cuts and asset sales, President Kelvin Dushnisky said.
The Toronto-based miner had about $9 billion in debt in the first quarter, down from a peak of $15.8 billion in the second quarter of 2013. Dushnisky said debt could fall to $5 billion in three years and zero within 10 years.