TORONTO/BENGALURU: Barrick Gold has named veteran executive Mark Hill as interim president and CEO following the abrupt resignation of Mark Bristow, who had led the Canadian mining giant for nearly seven years since its merger with Randgold Resources.
Bristow, appointed CEO in 2019, oversaw the integration of Randgold with Barrick, streamlined the company’s portfolio, and significantly reduced debt. He had previously indicated plans to remain in office until 2028, a tenure that would have included overseeing the development of the Reko Diq copper and gold project in Pakistan. His sudden departure has therefore surprised investors and industry watchers.
The change comes amid broader leadership transitions across the mining sector, with Rio Tinto already naming a new CEO this year and BHP preparing to do the same.
Analysts warned that Bristow’s exit could overshadow Barrick’s upcoming update on its Fourmile discovery in Nevada, touted as a potential world-class gold asset. “Barrick CEO succession has been a consistent investor question,” noted RBC Capital Markets analyst Josh Wolfson. “Following today’s news, the company’s strategic outlook is now less certain.”
By Reuters
