https://www.theglobeandmail.com/
Barrick Gold Corp. CEO Mark Bristow cannot believe rival miners are contemplating expensive mergers and acquisitions all over again, after the industry suffered through tens of billions of dollars’ worth of M&A writedowns when the last commodity supercycle crashed.
“The mining industry generally are world champions in investing in the peaks, and going bust in the troughs,” he said in an interview. Barrick was one of the worst-hit miners when the last supercycle crashed a decade ago, writing down US$20.7-billion between 2013 and 2015 under previous leadership.