Barrick Gold (ABX.TO) said Monday that it plans to change its name to Barrick Mining, subject to shareholder approval at its upcoming annual and special meeting of shareholders on May 6.
In connection with the proposed name change, the company also plans to change its NYSE ticker from GOLD to B, effective May 9. Its TSX symbol will remain ABX.
Meanwhile, at least four subcontractors employing several hundred people at Barrick's operations in Mali are laying off staff amid the company's two-year dispute with the government, Reuters reported over the weekend, citing documents and people familiar with the matter.
According to Reuters, some of the subcontractors have not received any payments from Barrick for months. The layoffs indicate that the dispute between the world's No. 2 gold producer and the West African nation is not expected to end anytime soon, the report said.
Barrick's share price was down 0.7% at last look to US$18.91 in NYSE pre-market trading.
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