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Barrick Gold chairman Peter Munk speaks at the company's annual general meeting in Toronto on Wednesday May 2, 2012.
Barrick Gold chairman Peter Munk speaks at the company's annual general meeting in Toronto on Wednesday May 2, 2012.
(CHRIS YOUNG/THE CANADIAN PRESS)

Barrick’s controversial deal raises the pressure on Peter Munk

The pressure on Barrick Gold Corp. founder Peter Munk is becoming so intense that he may soon have to do what he has so far resisted – announce a timetable for his own departure from the company he built into the world’s largest gold producer.

Major Barrick shareholders are boycotting a huge $3-billion (U.S.) stock offering, demanding that the company speed up the pace of change on its board. The focal point of that board has always been one man, the charming tycoon who created Barrick.