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A partial view of the Equinox copper mine in Lumwana, Zambia.
A partial view of the Equinox copper mine in Lumwana, Zambia.
(HO/REUTERS)

DAVID PARKINSON

Wiping clean the copper tarnish may restore shine at Barrick

ROB Insight is a premium commentary product offering rapid analysis of business and economic news, corporate strategy and policy, published throughout the business day.

When Barrick Gold Corp., the world’s biggest gold producer, decided two years ago to spend $7.3-billion (U.S.) to make a big slash into the copper business, investors openly questioned the wisdom. Now that Barrick has written off more than half of that purchase price, they’ve got their answer: The company took a bad idea and then overpaid for it.