“We built the inventory and we are managing it now,” Chief Executive Officer Mark Bristow said in a Wednesday interview.
While Bristow has coped better than peers with inflationary headwinds, there’s only so much a CEO can do to manage unprecedented supply-chain upheavals. Barrick lifted its 2022 inflation guidance to 8% from 5% on Wednesday amid pricier freight, energy and other inputs. He’ll continue to chase efficiencies, particularly in Nevada, to mitigate that.
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“This is a dynamic situation,” Bristow said. “You can’t deny the fact there is inflation around. On the one hand, it does add costs, but on the other hand it is a significant driver of the gold price.”
The world’s No. 2 gold producer posted better-than-expected first-quarter earnings earlier Wednesday and doubled its quarterly dividend as price gains helped counter higher costs…
