Published on Gold Anti-Trust Action Committee (http://www.gata.org)

Barrick Gold's new CEO dismisses Canada HQ debate as 'hysteria'

By cpowell
Created 2019-01-10 18:49

By Dnaielle Bochove
Bloomberg News
Thursday, January 10, 2019

Barrick Gold Corp.'s new chief executive is surprised by the "hysteria" over whether the world's largest gold miner will remain a Canadian company.

Barely a week after his Channel Islands-based Randgold Resources Ltd. merged with Barrick, Mark Bristow says he is determined to keep the global miner headquartered in Toronto -- or at least as committed as he is to any head office.

... Dispatch continues below ...


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"Mining industries have to catch up with the reality of the times," Bristow said in a phone interview from Jackson Hole, Wyoming, where he maintains a home. "We can't sit in this massive corporate office -- this old tradition -- trying to run an organization that's global by remote control."

Bristow's comments come in the wake of critical commentary by industry veteran Pierre Lassonde, who said Barrick's reduced presence in Canada amounts to the kind of hollowing out of the country's mining sector that Barrick's late founder, Peter Munk, vigorously opposed. Lassonde particularly criticized that Barrick's top company leaders -- Bristow, Chief Financial Officer Graham Shuttleworth, and Executive Chairman John Thornton -- aren't based in Canada. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2019-01-10/barrick-gold-s-new-ce... [2]

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