Since the merger of Barrick Gold (TSX: ABX; NYSE: GOLD) and Randgold Resources early in 2019, the new gold major appears to be completing a full circle under the leadership of Mark Bristow by increasingly prioritizing value-adding grass-roots exploration and development, he tells The Northern Miner.
After kicking off a period of top-tier gold-industry consolidation, the company has been focusing on “right-sizing” the portfolio, focusing only on Tier 1 and Tier 2 assets. But getting back to value creation through the drill bit is something close to the former Randgold Resources executive’s heart and an activity he is increasingly able to accomplish as most of Barrick’s operating assets are currently performing well.
Bristow has been very vocal about his commitment for Barrick to remain a Canadian company and has been talking about the company’s commitment to secure a new top-tier asset in the mining-friendly jurisdiction since the Denver Gold Forum in September.
“We remain Canada’s biggest gold mining company, and Hemlo remains our only strategic operation here,” says Bristow in an interview. “I’ve been very outspoken about my commitment to grow our portfolio in Canada. We’re very committed to doing that, but as you know, we are very focused on Tier 1 assets,” says Bristow.