A view of the Fourmile project in Nevada. Photo credit: Barrick Mining.
Leadership changes at two of North America’s biggest miners open the door to asset sales and even a potential takeover of Barrick Mining (TSX: ABX; NYSE: B), analysts say.
On Monday before stock markets opened, Toronto-based Barrick announced the surprise resignation of president and CEO Mark Bristow, who stepped down without explanation after more than six years in charge. That same morning, larger US-based rival Newmont (NYSE: NEM) said CEO Tom Palmer would retire from his position Dec. 31 and make way for chief operating officer Natascha Viljoen. Mining analysts insist the moves are coincidental.
Bristow’s departure came less than two weeks after Barrick said its Fourmile project in Nevada has the potential to produce as much as 750,000 oz. of gold per year, which would position it as one of the most significant discoveries…
