Gold industry needs further consolidation, says Barrick’s Bristow
The gold industry still has a mismatch of assets in too many managers’ hands and is in need of further consolidation, says gold major Barrick CEO Mark Bristow.
Speaking at the virtual Gold Forum Americas conference, he said that the industry had come a long way in 18 months, but that the job was not yet finished.
“The industry could be better served if we could reallocate some of the assets into the right place, with managements that have proven track records to deliver value,” Bristow said.
“Wherever we can, we will encourage and where we see opportunities to add to our tier-one portfolio, we will be right there in the front of the queue.”
The 2018 merger of Barrick and Randgold Resources – the company that Bristow found – ignited an industry shake-up. Several company and industry deals followed, including the Newmont-Goldcorp deal, Barrick and Newmont’s Nevada joint venture, Barrick taking Acacia Mining private and the major’s sale of Massawa, in Senegal, to Teranga Gold.
In West Africa, Canada-based Endeavour Mining has started to consolidate, which Bristow said was pleasing to see. “It is nice to see somebody working hard to take Randgold Resources' place.”
On activity in North America, he said that it was “fantastic” to see the Australian miners come into Canada. “They really do know how to mine.”
Bristow urged the investment community to support the industry to continue consolidation. When ideas to rearrange the industry were first mooted, many investors were loath to support initiatives.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...
VISIT SHOWROOM
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
