Barrick Gold’s CEO, Mark Bristow, expresses skepticism about the efficacy of mergers and acquisitions in addressing the impending copper shortage, even in light of BHP’s planned massive takeover of Anglo American. Bristow stresses the necessity of discovering and developing new copper deposits and asserts that consolidation frequently results in reduced production. As the global demand for copper soars due to the energy transition and the growth of electric vehicle production, the need for substantial increases in production capacity emerges. BHP is faced with a deadline to formalize an offer for Anglo American, a transaction that comes with significant complexity due to Anglo’s varied asset spectrum. Bristow commends Barrick’s own strategy, which focuses on the development of the Reko Diq project in Pakistan, a joint venture potentially extending over 40 years. The project, set to revolutionize Pakistan’s economic landscape, particularly in Balochistan, is expected to create thousands of jobs during construction and operation. Barrick is proactively managing potential recruitment challenges by setting up the Barrick Academy in Tanzania to train over 2,000 industry professionals from the MENA region.

Mining and Metals, Education and Training Services,Pakistan, South Africa, Tanzania

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