ABX Charts Barrick Gold (NYSE:ABX), the world's biggest gold miner by market cap and production, also is one of the most leveraged companies in this space. The company carries a debt of $9.1 billion, which translates into a long term debt-to-equity ratio of 125% - that's 3.3 times as large as the industry's average, according to data from Thomson Reuters. However, in a recent interview withBloomberg, Kelvin Dushnisky, Barrick Gold's President, predicted that the company could reduce its debt to zero within 10 years.
In addition to this, the healthy gold price environment will make it easier for Barrick Gold to sell its non-core assets at a decent price, giving it an opportunity to further reduce its debt levels. The company has a large portfolio of non-core assets that it can monetize, including its copper mines in Chile and Zambia, 64% interest in Tanzania-based Acacia Mining, which is one of the leading gold producers in Africa, and 50% interest in Australia's Kalgoorlie Super Pit open-pit mine which represents 4.15 million ounces of proven and probable reserves for Barrick Gold.
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