Bullish indicating open at $55-$60, IPO prices at $37
Investing.com -- Barrick Mining CEO Mark Bristow said Monday that potential U.S. tariffs on gold bars would have minimal impact on mining companies as they are "price takers."
Speaking to Reuters, Bristow noted that the World Gold Council is awaiting clarity from the United States on the possible tariffs.
The CEO also addressed Barrick’s relationship with Saudi Arabia and Pakistan regarding the Reko Diq copper-gold project, stating that the company is not acting as a facilitator between the two countries. Saudi Arabia’s sovereign wealth fund PIF has been in discussions with Pakistan’s government about investing in the project.
Regarding Barrick’s ongoing dispute with Mali, Bristow confirmed the company has not considered selling its Loulo-Gounkoto gold mine complex to a third party at this stage.
The Canadian miner reported better-than-expected second-quarter profit on Monday, with higher gold prices helping to offset decreased production, including from its Mali operations.
Mali’s military government temporarily seized control of the Loulo-Gounkoto mine in June, intensifying a dispute over Barrick’s alleged refusal to sign a new mining contract and non-payment of taxes.
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