Elliott Takes Large Stake in Barrick as Gold Miner Struggles (2)

Activist investor Elliott Investment Management LP has taken a large stake in Barrick Mining Corp., according to people familiar with the matter, after operational problems and cost blowouts left the gold producer trailing its peers while bullion prices surged.

The investment follows the sudden departure of the Canadian mining company’s chief executive officer Mark Bristow in September, and comes as the company plans to refocus on its North American assets.

Barrick didn’t respond to requests for comment, while Elliott declined to comment. The Financial Times reported earlier that Elliott had taken a stake in Barrick.

The mining company has ...