The state has blocked Barrick from shipping the precious metal out of the country since November, and put out an arrest warrant for Bristow. The miner has begun arbitration proceedings against Mali.
“Mali has got itself in a position where it is really trying to shake out some short-term cash out of the industry, and this industry is the very foundation of the economy,” Bristow said. “We’re making progress, not as fast as I would expect, but I’m sure everyone is a little cautious.”
The CEO of the world’s No. 2 gold producer also said more consolidation was needed in the mining industry, with too many companies running too few assets. Barrick would continue to grow organically and buy back shares, Bristow said.
The Barrick chief said there’s still “a lot of upside” in gold, which held near a record after US President Donald Trump’s 10% tariffs on China prompted swift retaliation from…
