19 March 2019

South Africa: Mark Bristow and His Randgold Team Tick the Right Boxes to Run the Biggest Gold Merger Ever

analysis

Mining eats money like competitors eat frankfurters in a hot dog eating competition, writes former mining CEO Peter Flack. This fact and others means that mining executives need to be a different kind of CEO. So what makes a good mining executive? Dig in...

Before anyone raises the question, no one has suggested, hinted, let alone asked me to write this article. But it did enter my mind after reading about the contested acquisition of Newmont by Barrick in Daily Maverick and later in The Economist that one the key questions shareholders in these companies might want to ask is this: What makes a good mining executive?

Clearly, the Barrick shareholders asked and answered the question when they appointed Mark Bristow, CEO of the smaller Randgold Resources, which Barrick recently acquired for more than $6-billion, to take over the running of the merged group assisted by a number of other key Randgold Resources' executives.

Randgold Resources was, without putting too fine a point on it, Bristow's baby. He envisioned it. He and his team came up with the strategy. They went out and found the mineral deposits, raised the money, built the mines and listed the business on the London...

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