Barrick Gold CEO Abruptly Resigns Amid Mali Challenges and Lagging Stock Performance
Barrick Gold, one of the world's largest gold producers, has seen a significant change in leadership. Mark Bristow, the company's CEO, unexpectedly resigned on September 29, 2025. This move comes amidst challenges in Mali and a decline in stock performance compared to competitors.
Bristow's departure follows a billion-dollar write-off in Mali due to a dispute over mining laws. Barrick Gold's stock has risen by only 37 percent since 2020, lagging behind Agnico Eagle Mines' 110 percent increase. This has led to the company losing its status as the largest gold producer by market capitalization to Newmont and Agnico Eagle.
As of the second quarter of 2025, Barrick Gold has a substantial cash position of $4.8 billion and generated $395 million in free cash flow. However, the company also has $4.7 billion in total debt. Mark Hill has been appointed interim CEO following Bristow's departure. The search for a permanent replacement is ongoing, with Natascha Viljoen expected to take over in early 2026.
Analysts are divided on the impact of the CEO change. Some point to potential growth from the Fourmile discovery in Nevada and the Reko Diq project in Pakistan. Others anticipate a strategic realignment within the company.
Barrick Gold's future remains uncertain following Bristow's resignation. While the company has significant cash reserves and potential growth projects, it also faces substantial debt and challenges in Mali. The appointment of a new CEO in early 2026 is expected to provide more clarity on the company's direction.
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