Video: Barrick’s Bristow douses Nevada Gold Mines IPO talk – Part 2

Video: Barrick CEO Bristow says Nevada Gold Mines won’t go public under his watch – Part 2Barrick Gold president and CEO Mark Bristow (L) talks to TNM's western editor, Henry Lazenby.

Despite rising metal prices, companies haven’t replaced the gold and copper reserves they’ve mined over the past two decades, Barrick Gold (TSX: ABX; NYSE: GOLD) CEO Mark Bristow said in an interview.

“We’ve relied on rising commodity prices to carry us,” Bristow said last month at the Gold Forum Americas in Colorado Springs. “Mining is a consumptive industry; we mine away our assets daily. To remain sustainable, we must reinvest in our future, not just rely on M&A.”

Bristow said consolidation must add value, not just react to market pressures. He pointed to the US$6.5 billion Randgold-Barrick merger announced in late 2018 as an example of building lasting, profitable mining businesses rather than seeking “instant gratification.”

At the same time, he addressed speculation that Nevada Gold Mining, Barrick’s 61.5%-owned joint venture with Newmont (TSX: NGT; NYSE: NEM) in the United States, could go public.

“Not while I’m running this organization,” he said, explaining there are too many assets in the industry and not enough competent managers to run them.

Watch the second part below of the interview with The Northern Miner’s western editor, Henry Lazenby.

Print

Be the first to comment on "Video: Barrick’s Bristow douses Nevada Gold Mines IPO talk – Part 2"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close