According to Mining News Pro - The sale was based on “personal portfolio considerations” and that Thornton would “continue to retain and seek to build on what remains a meaningful equity stake” in the company, the world’s number two miner of the metal.

The shares represented approximately 50% of Thornton’s prior holding, and Thornton now holds 2,642,127 shares.

Barrick shares closed up 3% on the NYSE at $18.87 per share for a market valuation of $33.4 billion. Shares in the company have gained more than 40% over the last 12 months.