We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Barrick Gold’s decision to double down on Africa is a bet on Randgold Resources boss Mark Bristow keeping his Midas touch on a continent where many miners have floundered. That wager is facing its first test. Among the assets Barrick will acquire in the $5.4bn deal for Randgold is Kibali, a mine Bristow built from scratch in the Democratic Republic of Congo. While that operation has been a crowning achievement for Randgold, it is set to challenge Bristow’s trouble-shooting skills even before he takes over as CEO of the enlarged company. Sokimo, Randgold’s state-owned partner in Kibali, has protested that it was not informed of the deal in advance and said it would “assert its rights”. Barrick will not be the first company to be squeezed by an increasingly assertive government in Kinshasa, DRC’s capital. Mining giant Glencore paid $150m earlier in 2018 to settle a dispute with state-owned Gecamines, which used identical resource-nationalist language as Sokimo when objecting to Freepo...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.