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A view of the construction at Barrick Gold's gold processing plant at the Pacua-Lama mine in Argentina, in this January 2, 2012 handout photo.
A view of the construction at Barrick Gold's gold processing plant at the Pacua-Lama mine in Argentina, in this January 2, 2012 handout photo.
(Handout/Reuters/Barrick)

Barrick’s $3-billion offering to spin off big fees for bankers

Barrick Gold Corp. is singlehandedly reviving the bonus pool for mining bankers, launching a $3-billion (U.S.) stock sale to shore up its balance sheet.

Royal Bank of Canada, Barclays and GMP Securities are leading the offering. Based on the numbers in the press release, there is about $100-million of fees flowing to bankers and lawyers.