(Kitco News) – Barrick Gold (TSX:ABX) is focused on replacing the ounces it mines through exploration, says President & CEO Mark Bristow.
In February Bristow spoke to Kitco Mining at the BMO Global Metals, Mining & Critical Minerals Conference 2024 in Hollywood, Florida.
“We’ve really invested in the quality of our explorers and that’s what adds value,” he said, noting that Barrick is spending 60 percent of its exploration budget this year on greenfield (early-stage) projects.
Bristow said Barrick’s most effective growth strategy is to acquire large mines with long lives, rather than trying to manage several small mines. The company is currently focused on copper, two examples being the Reko Diq copper-gold project in Pakistan and the Lumwana copper mine’s Super Pit expansion in Zambia.
“For me, what we set out to build is a sustainable, infinite business in Barrick,”…
