NewsAlert: Barrick posts US$3.1-billion loss
The Canadian Pressat 06:50 on February 14, 2013, EST.
TORONTO, Cananda - Barrick Gold Corp. (TSX:ABX) is taking a massive writedown on its copper business, resulting in a $3.06-billion net loss in the fourth quarter. The Toronto-based mining company says it's adopting a more disciplined approach to the way it operates and doesn't plan to build any more new mines at this time. It's also looking to reduce overhead costs by more than $100 million this year.
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