Barrick CEO Bristow Resigns Amid Mali Troubles

Barrick Mining said long-time CEO Mark Bristow abruptly resigned and the board named veteran executive Mark Hill — currently head of Latin America and Asia‑Pacific and group COO — as interim president and CEO while it conducts a global search with an external firm for a permanent successor. Bristow, who led Barrick since the 2019 Randgold merger and is credited with integrating assets, reshaping the portfolio, cutting debt and returning capital to shareholders, had said in May he intended to stay until 2028 to oversee projects including Reko Diq and the Fourmile discovery. Company sources and analysts pointed to a deteriorating situation in Mali — including loss of control at the Loulo‑Gounkoto complex, seizure of gold, an about $1 billion write‑off and an uncertain licence renewal in 2026 — along with five years of relative underperformance versus peers and investor pressure as key factors behind the succession move. Insiders also cited a strained relationship between Bristow and chairman John Thornton and described Bristow’s abrasive style as contributing to his departure. The announcement prompted a mid‑single‑digit drop in Barrick shares and has left the company’s strategy and geopolitical risk exposure under fresh scrutiny.