Mark Bristow

2024 saw clarity on just how long Mark Bristow intends staying at Barrick. It’s a very touchy subject because Bristow is a workaholic who has previously declared his job to be his life. In fact, it’s a topic broached at one’s peril, as Toronto’s Globe and Mail discovered the hard way. Responding to its article that said he could retire in 2026, Bristow hit the roof, telling Miningmx it was “absolute bullshit”. He said his intention was to stay with Barrick until at least 2028. 

In truth, Bristow still has many challenges at Barrick. Costs are high owing to legacy issues. Bristow also has to oversee the delivery of two major projects: the Lumwana copper mine in Zambia, and Reko Diq copper/gold project in Pakistan. There’s also an impasse with Mali’s junta relating to $500m in tax claims, resulting in the junta issuing a warrant for Bristow’s arrest! The dispute raises questions about extending the massive Loulo-Gounkoto, the flagship mine in Barrick’s African portfolio.  So Bristow has plenty of unfinished work which forbids retirement. 

We also got an answer to the question of “who’s the boss” at Barrick, a question dating back to the 2019 merger of the firm with Bristow’s Randgold Resources – a transaction partly shaped by Barrick chairperson John Thornton. Last year, Thornton changed his designation to a “non-executive” role. “What does executive mean when Mark Bristow is the CEO?” quipped Thornton. At the same time, he also reflected that Barrick ought to be more active in dealmaking. A few weeks later, Bristow gave his view, saying his board was: “100% on the same page regarding mergers and acquisitions. And that page is my page.”