Business

Barrick ends talks to sell African unit to Chinese buyer

“Since being listed, African Barrick has lagged expectations, suffering setbacks ranging from villagers armed with machetes invading a mine to power woes and fuel thefts. Analyst Dmitry Kalachev at brokerage Canaccord said African Barrick’s review of its operations was needed. Since the company’s IPO, ‘they’ve never actually met their production guidance, so 2013 will be a test for them,’ he said. African Barrick Chief Executive Greg Hawkins said in an interview the company would report a ‘reasonably positive’ fourth-quarter performance. “

Source:Barrick ends talks to sell African unit to Chinese buyer [501822444] | The Africa Report.com

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