Despite the massive run in the price of gold, Barrick Gold Corp (TSX: ABX) has its sights on the copper business.
The company this morning indicated it will seek shareholder approval to change its name to Barrick Mining Corp, which is intended to reflect its refined focus on both copper and gold.
In connection with the change, the company also intends to change its symbol on the New York Stock Exchange from “GOLD” to just “B”. That change is slated to become effective as of the start of trading on May 9. Barrick’s symbol on the TSX however will remain unchanged.
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“Barrick’s vision is to be the world’s most valued gold and copper exploration, development and mining company. Along with our world-class portfolio of six Tier One gold mines, we are building a substantial copper business which will be a meaningful contributor to growing our production volumes in the coming years and beyond,” commented Mark Bristow, CEO of Barrick.
Barrick Gold last traded at $26.41 on the TSX.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
