Canadian Press NewsAlert: Barrick Gold records US$3.1-billion loss, vows change

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TORONTO, Cananda - Barrick Gold Corp. (TSX:ABX) is taking a massive writedown on its copper business, resulting in a $3.06-billion net loss in the fourth quarter. The Toronto-based mining company says it's adopting a more disciplined approach to the way it operates and doesn't plan to build any more new mines at this time. It's also looking to reduce overhead costs by more than $100 million this year.

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Organizations: Barrick Gold, Press NewsAlert, TSX

Geographic location: TORONTO

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