The Best Reason to Oppose Barrick’s Move on Newmont

By Otto Rock

[biiwii comment: douche bag… ]

Right now there are contenders and competition for the top spot in the precious metals mining world. The number one position has been Barrick, Newmont, even Goldcorp if you go back a couple of years. Right now today it’s Barrick, but assuming the Newmont/Goldcorpse merger goes through that consolidated company will return NEM to the top. Aside the classic race, Australia’s Newcrest has flown up the rankings recently and you can even make a case for a couple of the massive (though somewhat opaque) Chinese entities.

However, if Barrick buys Newmont there will be no further questions or debate. That iteration of Barrick would be the biggest PM miner in the world and by quite a distance, no matter how much asset disposal goes on afterwards. And therein lies the best reason of all to stop Barrick from taking over Newmont, because it would be run by a person who goes big game trophy hunting for fun. The mining industry has enough bad press and optics as it is, what it does not need is to have an absolute fucking asshole as its big cheese top table no dispute clear number one big figure. Because that’s what people who go big game trophy hunting are, absolute fucking assholes.

UPDATE: Thanks Lawrence.

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Gary

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