Barrick Vows Not to Grow for Growth's Sake
- Gap between competitors narrows to about 50,000 ounces in 2017
- Newmont produced 1.34 millions ounces in the fourth quarter
Photographer: Diego Levy/Bloomberg
This article is for subscribers only.
Barrick Gold Corp. managed to cling to the title of world’s largest miner in 2017, but Executive Chairman John Thornton made it clear he won’t be pressuring the troops to repeat that this year.
With rival Newmont Mining Corp. breathing down its neck, Barrick won’t be giving in to the temptation of seeking growth for growth’s sake. Thornton said Barrick looked at a “number of external opportunities” in 2017 and passed on all of them.