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Photo from Africa Barrick Gold of the North Mara minein northeast Tanzania in the Tarime district of the Mara region.
Photo from Africa Barrick Gold of the North Mara minein northeast Tanzania in the Tarime district of the Mara region.
(Africa Barrick Gold)

Barrick’s game plan: Cut out high-cost mines

What in the world does Barrick Gold Corp. do now?

The massive gold miner’s already written off roughly $13-billion (U.S.) in six months, cut capital spending by $2-billion since January and slashed its dividend to just one-quarter of its former glory.

Have no fear: there is a game plan. Barrick’s promised to stay stringent on capital spending and executives are now hell bent on cutting out their high-cost mines, many of which are located in Australia and Africa.