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With gold’s record climb expected to boost third-quarter results, Barrick Gold’s CEO Mark Bristow, aims to build on the financial discipline that drove a 68% surge in second-quarter adjusted net profit.
Under Bristow’s leadership, Barrick has prioritized growth investments with shareholder returns and loan retirements, distributing $5 billion and cutting debt by $3.5 billion. “We’ve invested over $9 billion in our business and created real value for shareholders,” Bristow said last month during the Gold Forum Americas in Colorado Springs.
Barrick continues growing its copper exposure. Bristow says the company’s Reko Diq copper-gold project in Pakistan is a bright spot in its growth pipeline. The company aims to grow copper output in the long term, planning to lift its Lumwana mine in Zambia into the top 25 global copper producers.The company launched international arbitration proceedings in 2020, arguing Warsaw breached bilateral treaties by blocking its investment in two coal mines.
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