Deals
Gold Giants Shrink to Fit as Paulson Pushes Breakup: Commodities
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The 10 biggest gold companies led by Barrick Gold Corp. spent more than $100 billion in the past 20 years buying new mines and projects around the globe. Now they’re feeling pressure to throw the strategy into reverse.
Gold Fields Ltd. spun off most of its South African assets in February. Billionaire hedge-fund investor John Paulson is calling for a breakup of Johannesburg-based AngloGold Ashanti Ltd. Barrick, which has 27 mines, is selling assets after an acquisition and cost overruns helped erase $26 billion of the Canadian company’s market value.