Modern Mining November 2021

Helen Cai joins Barrick board

taining the measures establ ished by management to manage and minimise the spread of the virus, as well as a safe operat- ing environment for our employees.” He adds that all operating units are stra- tegically positioned to deliver outstanding service to the group’s customers, whilst acting as an efficient hedge against volatile local business conditions. “Our transition through conscious diver- sification has resulted in a varied product range, made up of Construction Materials consisting of aggregates and concrete- based products, Industr ial Minerals consisting of limestone, dolomite and silica, and Bulk Commodities consisting of iron ore and anthracite.” The Bulk Commodities segment, com- prising the Demaneng and Jenkins iron ore mines, and the Nkomati anthracite mine, delivered an excellent contribution to the group results, with an increase of 39,3% in operating profit to R453,7-million, com- pared to R325,8-million in the prior period. This was mainly due to the favourable international iron ore pricing during the reporting period. 

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) has announced the appoint- ment of Helen Cai to its board as an independent director. Cai is a finance and investment professional with close to two decades of experience. After graduating from Massachusetts Institute of Technology (MIT), she worked firstly with Goldman Sachs Group (GS) in the United States and then with China International Capital Corporation (CICC) in the Greater China region until spring 2021. When covering the American natural resources sector in New York with GS as an equity research analyst, Cai was highly ranked by StarMine. Subsequently, she fol- lowed the US technology sector. At CICC, as a managing director, she expanded her scope, from metals and mining and basic material, to advanced manufacturing and tech-enabled industry upgrades. Cai was ranked as best analyst by Institutional Investor and Asia Money in their China Research Sector Polls for multiple years. The cross-border financing and M&A trac-

tions she led at CICC a l so won var i ous awards f rom As ia Money and The Asset. She is a Chartered Financial Analyst and

Chartered Alternative Investment Analyst and was educated at Tsinghua University in China and MIT in the US, with two master’s degrees from MIT and multiple fellowship awards. Executive chairman John Thornton says Cai is extensively versed in equity markets and all aspects of corporate finance, from strategic planning to M&A transactions. “Her experience in both the American and Chinese capital markets will bring a unique perspective to the Board, particularly given China’s position as a leading producer and consumer of gold, and the biggest driver of copper demand in the world. Our strategic partnership with Chinese mining compa- nies in Argentina and Papua New Guinea sets a good precedent for effective collabo- ration in future,” he says. 

November 2021  MODERN MINING  5