Canada's Gold Tycoon

For one of the world's most successful gold tycoons, Canada's Peter Munk seems to hold no special regard for the yellow meta

For one of the world's most successful gold tycoons, Canada's Peter Munk seems to hold no special regard for the yellow metal. In less than 10 years, the Hungarian- born magnate's Barrick Gold has emerged as the world's third largest gold producer. With a pending deal to develop the $20 billion Busang deposit in Indonesia, Barrick may even outstrip South Africa's Anglo American for the No. 1 spot. Yet, says Munk, he is no gold bug. "For a Canadian, natural resources were a good fit," he conceded recently from his corporate headquarters in Toronto. "But you don't get into a business...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!