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Barrick Gold Corporation (USA) (NYSE:ABX) Resets Its Target And Focus On Expand The Business In Nevada

Boston, MA 06/04/2014 (wallstreetpr) – Barrick Gold Corporation (USA) (NYSE:ABX), the prime gold producer of the world plans to expand its business in Nevada. Last week the Chief Executive officer of the company delivered such progressive attitude.

Barrick Gold Concentrates On Growth Strategies:

Jamie Sokalsky, the CEO of Barrick Gold Corporation (USA) (NYSE:ABX) made this valuable comment a week back and clearly indicated that the company will take up its growth strategies from now onwards. For the whole CEO time, Sokalsky only focused on various factors that helped the company to economize the burden expense and fight the obstacles. Now the CEO has completely changed the scenario of the market by promptly saying on the growth strategies.

Nevada A Prospective Gold Zone:

Last year the company produced almost 40% of its gold from Nevada, and so Barrick Gold intends to expand its business there. While commenting on one of the company’s biggest invested project, Goldrush, Sokalsky stated that it is high time for the company to think about the future and reset the target.

Company’s Achievements: 

Fifty seven years old Sokalsky was designated to the CEO post of Toronto based Barrick Gold in June 2012. In the tenure Barrick Gold Corporation (USA) (NYSE:ABX) experienced enormous success, including downsizing of expenses and raising $3 billion in share sale. Despite decline in the gold price, the company managed to cut down its average expenditure in Sokalsky’s period.

However, the company was unable to acquire its biggest opponent, Newmont Mining Corp. last month. The CEO stated that the company will act as a standalone unit and focus on the strategies. In spite of numerous challenges the company faced in the recent days, CEO is trying to navigate the company in the right direction.

Optimist CEO Commented:

The Goldrush project in Nevada may bring positive response and the company is working hard to establish that. The aim of qualitative production from Nevada is the best way to explore the new opportunities and enhance Barrick Gold Corporation (USA) (NYSE:ABX)’s overall performance, the CEO commented.

Published by Brendan Byrne

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. You may contact Brendan via his email ([email protected]) or his Google+ page (https://plus.google.com/u/0/116608759701551457422).



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