Barrick’s Thornton Said to Seek China Deal to Renew Miner

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.

At a Dec. 4 board meeting, Thornton will be confirmed as Barrick’s next chairman, succeeding Munk, 86, who plans to retire at the Toronto-based company’s next annual shareholders meeting after three decades, according to people familiar with the situation.