Barrick Gold Corp. (ABX:TSX; GOLD:NYSE, US$25.49), the world’s second largest gold producer, has been transformed since it merged with Randgold and the latter’s Dr. Mark Bristow took over as CEO. Today, it is not only one of the largest gold miners, but one of the best and one of the most undervalued.
Bristow is a dynamo. In his less than two years at the helm, Bristow has dramatically cut the company’s debt; has cut costs, including slashing the bloated Toronto corporate headquarters; has visited every one of the company’s operations around the world; has reacquired Acadia Mining and solved political problems in Tanzania (and is working on Papua New Guinea); and has achieved the decades-old goal of combining Barrick’s and Newmont’s Nevada operations, cutting duplicative overhead.
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