Barrick Gold Corp said on Wednesday its chief executive officer will step down in September and not be replaced, concentrating power in the hands of the miner's new executive chairman, John Thornton.The world's biggest gold miner appointed two co-presidents to help run the company after Jamie Sokalsky's departure as CEO.Thornton, who earlier this year took the reins from Barrick founder and long-time chairman Peter Munk, has already driven many of the company's recent moves, including an ill-fated attempt to merge with rival Newmont Mining and a joint venture with Saudi Arabian Mining Co, which is known as Ma'aden.Sokalsky and Thornton did not see eye to eye, sources familiar with the situation said, making Sokalsky's departure unsurprising. Sokalsky did not lead the talks with Ma'aden and was cut out of the failed negotiations with Newmont, according to several sources.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX traded higher by 3.38% or $0.62/share to $18.95. In the past year, the shares have traded as low as $15.26 and as high as $21.45. On average, 10078700 shares of ABX exchange hands on a given day and today's volume is recorded at 14498350.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX traded higher by 3.35% or $0.66/share to $20.37. In the past year, the shares have traded as low as $16.19 and as high as $23.78. On average, 2485080 shares of ABX.TO exchange hands on a given day and today's volume is recorded at 3134162.
Newmont Mining Corporation is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Indonesia, Ghana, New Zealand and Mexico. Shares of NEM traded higher by 2.11% or $0.52/share to $25.21. In the past year, the shares have traded as low as $20.79 and as high as $34.27. On average, 6648230 shares of NEM exchange hands on a given day and today's volume is recorded at 6886124.
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