The struggling mine, Gold Fields’ only asset left in South Africa, holds the world’s largest gold deposit after Grasberg in Indonesia and accounts for 60% for the company’s mineral reserves.
Gold may be trading at its lowest in 18 months in dollar terms but look at the precious metal in other currencies and you can see it’s still serving its role as a safe-haven asset.
Barrick's plan going forward includes increasing its portfolio of so-called tier 1 assets over time, and gradually shedding anything that’s not tier 1 or deemed to be “strategic.”