Finance > Capital-markets

"When Barrick prospers, you prosper"

Barrick Gold (CN:ABX), currently the world’s biggest gold miner, has announced the third grant of common shares to employees to give staff the “emotional and financial investment” of an owner.

Staff reporter

Finance > Capital-markets

"When Barrick prospers, you prosper"

Barrick Gold (CN:ABX), currently the world’s biggest gold miner, has announced the third grant of common shares to employees to give staff the “emotional and financial investment” of an owner.

Staff reporter

"When Barrick prospers, you prosper"

Company announces third grant of employee shares

The company launched the share plan in 2016 and employees now own more than 1.5 million shares as a result.

This year employees will receive 90 shares each, which must be held for the duration of their time with the company.

Executive chairman John Thornton said the number of shares granted would vary each year and this year's issue was a vote of confidence in employees.

"This is the standard of ownership to which we aspire; a recognition that everything you do — every decision, every action, or failure to act — affects not only your performance, but our collective ability to generate wealth for our shareholders, of which you are one," he said.

"When Barrick prospers, you prosper. When we struggle, the value of your shares declines."

The company recently outlined 10 years of forward guidance to reassure investors as rival Newmont Mining (US:NEM) looks set to take the title of the world's biggest gold producer this year.

Barrick shares, which were trading above C$24 a year ago, closed up almost 1% in Toronto yesterday to C$15.28, having reached a 52-week low of $14.26 on March 1.

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