Elliott Investment Management has reportedly taken a large stake in Barrick Mining (TSX:ABX,NYSE:B), the Financial Times reported on Tuesday (November 18), adding activist pressure to the gold producer, which is already dealing with escalating operational problems and a leadership shakeup. The moves comes just weeks after the abrupt September exit of former CEO Mark Bristow, and as Barrick’s new chief executive, Mark Hill, begins overhauling the company’s regional structure. In an internal memo seen by Bloomberg, Hill said Barrick will fold its Pueblo Viejo mine in the Dominican Republic into its North American division and merge its Latin America and Asia Pacific operations to improve performance. Elliott’s investment also comes during a challenging phase for Barrick. The company has been hit by rising costs at key North American assets and the loss of its most profitable operation, the Loulo-Gounkoto mine in Mali, after the military junta seized control earlier this…
