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Barrick Gold’s Bulyanhulu mine in northwest Tanzania, in the Kahama district of the Shinyanga region, is about 55 kilometres south of Lake Victoria.
Barrick Gold’s Bulyanhulu mine in northwest Tanzania, in the Kahama district of the Shinyanga region, is about 55 kilometres south of Lake Victoria.
(Barrcik Gold/)

Barrick pushes reset button, but there’s no quick fix

In Barrick Gold Corp.’s long and expensive road to stock market redemption, investors are giving management credit for taking their lumps in the name of a more prudent approach to their business – even if the price tag for that prudence is running in the billions. But while it’s abundantly clear that the world’s largest gold miner is now focused more on getting better than getting bigger, the company’s own projections for 2014 suggest that all the pain to date isn’t yet translating into lower costs.