TORONTO — Barrick Gold intends to keep debt in its cross-hairs with a plan to cut at least $2bn this year as the world’s largest producer of the metal seeks to shore up its balance sheet following three annual gold-price declines.The miner reduced total debt by $3.1bn last year to $10bn through measures that included asset sales and cost cuts. This year, it might sell additional noncore assets and create new joint ventures and partnerships to help meet its new debt-reduction target, the company said on Wednesday."In the medium term, we aim to reduce our debt to below $5bn," the company said. "Philosophically, our goal is to have no debt at all."Investors are likely to be encouraged by the debt-reduction goal, as well as by progress the company had made reducing its costs, said Macquarie Capital Markets analyst Michael Siperco. "Two billion (dollars) seems to be in the right range. The question now is going to be how they do it. It will be interesting to see if equity is a part of th...
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