Barrick Gold Has No Assets That It Needs to Sell, CEO Bristow Says

The transcript discusses the strategic priorities of a mining company, focusing on balancing shareholder returns with growth and capital expenditure. It highlights the company's achievements since merging Randgold and Barrick, including a new 5-year plan. The discussion covers rising gold prices, CapEx strategies, and forecasts a decline in gold production by 2029. The company is involved in asset sales, particularly in Zambia and Australia, aiming for over $1.5 billion from non-core assets. The need for industry consolidation, especially in the mid-tier range, is emphasized.

What was the primary focus of the company at the beginning of the year?

• Building a profitable business

• Increasing shareholder returns

• Reducing operational costs

• Expanding into new markets

What is the company's approach to capital expenditure in response to rising gold prices?

• Increase CapEx significantly

• Maintain current CapEx levels

• Invest in new technologies

• Decrease CapEx to save costs

Which project is mentioned as a major capital expenditure for the next year?

• Kalgoorlie project in Australia

• Virco project in the Dominican Republic

• Lawana project in Zambia

• Acacia project in Tanzania

What is the company's target for asset sales from non-core assets?

• $1 billion

• $2.5 billion

• $1.5 billion

• $2 billion

What is the company's criteria for selling assets?

• Assets that do not meet internal rate of return criteria

• Assets that are unprofitable

• Assets that have low production capacity

• Assets that are located in high-risk areas

What is the company's stance on industry consolidation?

• It should be avoided

• It is only beneficial for large companies

• It is needed, especially in the mid-tier range

• It is unnecessary

What challenge does the company face in the Zambian mining industry?

• High operational costs

• Low demand for gold

• Absence of a roaster

• Lack of reserves