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Global Leader in Responsible Refining Technology abcrefinery.com

NEWGENGOLD PREVIEW
of the MINExpo conference in Las Vegas, the quadrennial
Barrick, Newmont gathering of industry executives and suppliers.
“Organic growth is always a winner when it comes to value.”
focus on organic Barrick’s shares have lagged rival Newmont and the S&P500

this year, putting pressure on Bristow and his management
matters team. However, he said that by funding exploration, rather than
striking deals, Barrick’s costs should drop over time, boosting
revenue.
by Paydirt staff with Ernest Scheyder, Reuters “We’ve got to balance the short-term-ism that fund managers
want ... with the fact that we are investing capital for the long
term,” he said. “You’ve got to be patient.”
xploration is back on the agenda for the world’s gold Bristow, 62, has long implored his fellow CEOs to buy each
Emajors with both Barrick Gold Corp and Newmont Corp other. Last autumn, he called for industry consolidation as the
committing to organic growth spending to maintain their best way to avert a “serious reserve crisis” looming for the
respective production profiles for the next two decades. sector.
Barrick chief executive Mark Bristow spent years burnishing He formed the existing Barrick when it bought his Africa-
his reputation as an aggressive dealmaker but says now he is focused Randgold in 2019. A few months later, Bristow made
focused on new mines that he hopes will boost profit and the an $US18 billion hostile bid for Newmont, a deal that eventually
company’s sagging stock price. fizzled but not before both companies formed the Nevada JV.
The strategy eschews the acquisition appetite that made Integrating all those corporate cultures was complicated,
Barrick what it is today and instead pins the company’s Bristow said, but the process was almost complete, which
growth on exploration projects in Egypt, Nevada, Guyana and should help the company focus on growing.
elsewhere. The newfound focus on internal growth comes as Bristow
“The very foundation of our future has to be our geologists and pushes the mining industry to better invest in host communities.
where we are investing,” Bristow told Reuters on the sidelines

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