21:10:59 EDT Thu 09 May 2024
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,777,926,611
Close 2020-01-29 C$ 24.24
Market Cap C$ 43,096,941,051
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Post/FT say Barrick's Bristow just warming up

2020-01-29 09:28 ET - In the News

The Financial Post reports in its Wednesday edition that a tough-talking South African is on a mission to shake up the mining industry. A Financial Times of London item inside the Post describes Mark Bristow as the swashbuckling head of Barrick Gold. Since the geologist took control of the world's second-biggest gold miner just over a year ago he has been a whirlwind of activity. Highlights of the past 12 months include a hostile bid for its arch rival, a buyout of struggling subsidiary Acacia Mining and more than $1-billion (U.S.) of asset sales. This is just the beginning for Mr. Bristow, 61, described by the FT as an adrenalin junkie. The market is buzzing with speculation about his next move, with Freeport-McMoran, owner of the giant Grasberg copper and gold mine in Indonesia, regarded as a potential takeover target. Mr. Bristow recently described copper as a "strategic metal" because of the role it would play in the shift to a greener economy. "The new, big gold mines are going to come out of the young geologies of the world," he said. "And in young rocks, gold comes in association with copper or vice versa." One of his first moves on taking the helm was to cut almost 100 jobs at Barrick's head office in Toronto.

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