In an update in April, Barrick said since its merger with Randgold Resources two years ago, it has raised the quarterly dividend threefold, reduced net debt to zero, and had US$5.2 billion in cash on hand and an undrawn US$3-billion credit facility.
The delay of the maintenance “turnaround” for one of the coker units in the upgrader will allow the company to avoid increasing the number of contractors in the region until after similar work now underway at the nearby Syncrude oilsands mine is completed, without affecting production guidance, said CEO Mark Little.
Imperial CEO Brad Corson, however, said at the company’s virtual annual meeting that the board recommended voting against the proposal because, although it supports initiatives to control global warming, it is “premature” to set targets before it knows how to reach them.
The Quebec-based company announced that Papa will head the new eyecare business while Sam Eldessouky will become chief financial officer with Paul Herendeen’s departure from the role on May 31 to become special adviser to the chairman.