Twitter

Barrick Gold Corporation

Barrick’s Bristow talks down chances of buying biggest gold competitors, as he focuses on the basics – by Niall McGee (Globe and Mail – August 9, 2023)

https://www.theglobeandmail.com/

Barrick Gold Corp. chief executive Mark Bristow is talking down the chances of buying either of his two biggest competitors, Newmont Corp. and Agnico Eagle Mines Ltd., as he shuns deal-making in favour of growing Canada’s biggest gold company from the ground up.

Barrick has sat on the sidelines in large-scale mergers and acquisitions since Mr. Bristow joined the company in 2019, after it bought Randgold Resources Ltd., a company he founded and ran for two decades.

Read more

Barrick Gold targeted by Russian cybercriminal group Clop in global data theft that hit Sun Life, Vancouver transit police – by Niall McGee (Globe and Mail – July 20, 2023)

https://www.theglobeandmail.com/

Canada’s biggest gold company has been targeted by shadowy Russian cybercriminal group Clop in a massive global data theft incident that has affected hundreds of corporations and close to 20 million individuals.

Barrick Gold Corp. is one of a growing tally of at least 376 organizations publicized by Clop in an attack that has seen confidential data stolen from financial firms and health care providers, as well as U.S. government agencies and Canadian municipalities.

Read more

Junior exploration ‘absolutely critical’, Barrick’s Bristow tells London Indaba – by Martin Creamer (MiningWeekly.com – June 27, 2023)

https://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – Junior exploration is an “absolutely critical” component of a sustainable mining industry, and “it is something that we neglect”, Barrick president and CEO Dr Mark Bristow has told the London Indaba.

“We are always engaged in exploration and we are always talking to the junior explorers,” said Bristow. The Africa-linked Randgold Resources that Bristow ran before merging it with Barrick four years ago had a highly successful discover and develop strategy that resulted in a discovered cost per ounce being considerably lower than the ounces other gold companies were acquiring through mergers and acquisitions (M&A).

Read more

World’s No. 2 gold miner is trying to get bigger in copper – by Jacob Lorinc (Bloomberg News – June 18, 2023)

https://www.bnnbloomberg.ca/

For a company with “gold” in its name, Barrick Gold Corp. has become noticeably fixated on copper. The world’s second-largest bullion producer recently approached First Quantum Minerals Ltd. to discuss a potential takeover, Bloomberg reported last week.

And while the move was unsuccessful — Barrick’s informal overtures were rebuffed — its interest in buying a $17 billion copper miner provides the starkest evidence yet of a shifting focus at the company whose origins lie in Nevada’s gold veins.

Read more

First Quantum rebuffs informal approach from Barrick Gold – by Dinesh Nair, Thomas Biesheuvel, Jacob Lorinc and Vinicy Chan (Bloomberg News – June 15, 2023)

https://www.bnnbloomberg.ca/

First Quantum Minerals Ltd. recently rebuffed an informal takeover approach from Barrick Gold Corp., the world’s second-largest producer of the precious metal, as miners scour the globe for deals, people with knowledge of the matter said.

Barrick made overtures to First Quantum in the last few months as part of its search for ways to expand in copper, the people said. First Quantum indicated it wasn’t keen on a combination and declined to enter any substantive talks, according to the people.

Read more

Barrick CEO Bristow rails against Ottawa’s interference in Canadian mining industry – by Niall McGee (Globe and Mail – May 4, 2023)

https://www.theglobeandmail.com/

Barrick chief executive officer Mark Bristow is refusing to shut the door on accepting new investment from state-controlled Chinese companies, and questioned the move by Canada and the U.S. to clamp down on such investment in the North American mining sector.

Last year, in an effort to bolster the domestic critical-minerals industry, the federal government said it would not allow any more investment by China, except on exceptional grounds, owing to national-security concerns.

Read more

Barrick Gold CEO blasts rivals for chasing major mergers — while grappling with his own US$1.6-billion writedown – by Tim Kiladze (Globe and Mail – February 16, 2023)

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.

Read more

Barrick eyes Nevada Gold Mines as Newmont ramps up deal pressure – by Divya Rajagopal and Helen Reid (Reuters – February 15, 2023)

https://www.reuters.com/

Feb 15 (Reuters) – Canada’s Barrick Gold Corp (ABX.TO), would be open to taking over Newmont’s (NEM.N) stake in its Nevada Gold Mines joint venture, CEO Mark Bristow said on Wednesday, after Newmont’s $16.9 billion bid for Newcrest (NCM.AX) ramped up pressure on gold miners to do deals.

Bristow though distanced himself from rival Newmont’s M&A push on Wednesday and highlighted Barrick’s plan to grow through exploration rather than acquisitions. Shares of Barrick Gold were trading 4% down at the Toronto Stock Exchange.

Read more

Reko Diq: A way forward to shatter debt shackles (Associated Press of Pakistan – February 12, 2023)

https://www.app.com.pk/

Balochistan province, once known for insurgency and deteriorating law and order, is now ready to assist in boosting country’s economy as the government has successfully restructured and restarted the stalled multi-billion dollar RekoDiq project.

Reko Diq that means sand and gold mounds in Balochi language, has an estimated reserve of 5.9 billion tons of ore grading 0.41% copper and gold reserves. Located in Chaghi district, about 70 kilometres north-west of Naukundi, a town near Iran and Afghanistan, Reko Diq is thought to have the world’s fifth largest untapped gold and copper deposits.

Read more

Barrick’s ties to Canada dwindle as other miners secure access to country’s rich gold belt – by Gabriel Friedman (Financial Post – February 10, 2023)

https://financialpost.com/

Toronto-based Barrick Gold Corp. has long been one of the largest, most recognizable names in Canada’s sizeable mining industry, but its ties to the country are narrowing, especially now that its longtime rival, Colorado’s Newmont Corp., is closing in on a US$17-billion purchase of Australia’s Newcrest Mining Ltd.

All three companies are global in scale — the first, second and fourth largest gold miners in the world — but when it comes to Canada, home to some of the richest gold belts globally, only Barrick lacks a significant presence.

Read more

‘Makes no sense to me’: Barrick CEO Mark Bristow says West’s deglobalization push a tragedy – by Naimul Karim (Financial Post – January 24, 2023)

https://financialpost.com/

The chief executive of one of the world’s largest mining companies says it makes “no sense” for Western nations to introduce policies and incentives that encourage deglobalization as a way to tackle the influence of authoritarian regimes in the energy sector when the world is already struggling to meet its climate goals.

Mark Bristow, who heads Toronto-based Barrick Gold Corp., said the United States’ Inflation Reduction Act (IRA), which offers up to a US$7,500 subsidy to companies that produce their electric vehicles (EVs) and source the materials for them in North America, was a “bit of an oxymoron” and encourages “exclusivity” rather than looking at a global solution for the shift away from fossil fuels.

Read more

North America’s Top Mining CEOs Anticipate Turbulent Year Ahead – by Jacob Lorinc (Bloomberg News – January 10, 2023)

https://www.bnnbloomberg.ca/

(Bloomberg) — Top executives from North America’s biggest metals producers are bracing for a turbulent 2023 marked by recession, geopolitical risks and an uncertain investment climate that could change the face of mining.

The year “is going to be seen as the start of serious change — in the way mines operate and are held accountable,” Barrick Gold Corp. Chief Executive Officer Mark Bristow said in an interview.

Read more

For generations, Grassy Narrows residents have used the land for hunting. Now, it’s in the middle of a lawsuit between Canadian mining corporations – by Morgan Bocknek (Toronto Star – December 12, 2022)

https://www.thestar.com/

Ontario has created a mess by granting mining claims on land Grassy Narrows aims to make protected Indigenous territory, First Nation’s leaders say.

Barrick Gold Corp. is embroiled in a $100-million lawsuit against two junior mining companies, as an exploration deal between the firms fell apart over a decision to pause work to respect a First Nations’ opposition to mining on what it calls territorial land.

In recent court filings, Barrick says when it first signed on to conduct exploratory drilling in a swath of land 90 kilometres north of Kenora, it was unaware of the importance of the land to Grassy Narrows First Nation. The company says it wanted to first obtain consent before proceeding with its search for gold.

Read more

Barrick Gold faces Ontario lawsuit for alleged killings and abuses at Tanzanian mine – by Geoffrey York (Globe and Mail – November 24, 2022)

https://www.theglobeandmail.com/

Two law firms have filed suit against Barrick Gold Corp. in Ontario Superior Court on behalf of 21 Tanzanians who allege that they or their family members were killed, injured or tortured by police guarding a Barrick gold mine.

The case, filed on Wednesday morning, is the first to be pursued against Barrick in Canadian courts for alleged human rights violations at its mines abroad. It follows a landmark Supreme Court of Canada ruling in 2020 that allowed a Vancouver-based mining company to be sued in British Columbia for alleged abuses in Eritrea.

Read more

‘Others buy, Barrick builds’ – Bristow – by Staff (MiningWeekly.com – November 21, 2022)

https://www.miningweekly.com/

Bullion major Barrick Gold’s portfolio of gold and copper assets is projected to show strong growth over the next five to ten years, president and CEO Mark Bristow said at an investor meeting in New York on Friday.

The unlocking of value at the Pueblo Viejo gold mine in the Dominican Republic, following the finalisation of the location for the new tailings storage facility, would support that growth, he said.

Read more