Barrick Gold CEO Sokalsky says lessons learned from setbacks

|About: Barrick Gold Corporation (ABX)|By:, SA News Editor

Barrick Gold (ABX -0.9%) CEO Jamie Sokalsky tells FT the company has learned from its mistakes, including the aborted acquisition of Newmont Mining and the failure of its Pascua-Lama project.

Sokalsky plays up the potential for ABX to grow on the back of its gold discoveries in Nevada, and says that even without a merger ABX will still look for ways to co-operate in Nevada with Newmont.

Sokalsky also says it will take a more gradual approach to growth after shelving its attempt to build the huge Pascua-Lama gold mine in South America, and the change of emphasis shows how miners have been forced to temper their ambitions because of weak gold prices.