Barrick Gold Corp. may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations, Executive Chairman John Thornton told the Globe and Mail newspaper.
The Toronto-based company has slashed middle management by half to about 700 and “we want to get it down to 300,” Thornton, who’s been in his role since 2014, told the Globe in an interview in London. The former Goldman Sachs Group Inc. executive wants a leaner, entrepreneurial partnership more like the early days under late founder Peter Munk, the Globe said.
Thornton said there’s “an almost 100 percent” chance Chinese partners will get involved in Barrick’s projects in Tanzania that are operated through its 64 percent stake in Acacia Mining Plc. Continue Reading →