The abrupt exit of Barrick Gold CEO Mark Bristow has been closely linked to the company’s deepening dispute in Mali, where authorities seized three metric tons of gold and forced the miner to write off about $1 billion tied to its Loulo-Gounkoto operations. Sources told Reuters the conflict was the final factor that convinced the board to act, naming Chief Operating Officer Mark Hill as interim CEO.
Bristow, known for his combative style and bold deals, had already faced criticism over Barrick’s relative underperformance compared to its peers. While Barrick’s share price gained about 37 percent between 2020 and 2025, rivals such as Agnico Eagle nearly tripled in value during the same period, as highlighted by the Financial Times.
The outgoing CEO has consistently maintained that Barrick was pursuing dialogue in Mali despite reports of stalled negotiations. “The point about talks being suspended is news to me. We are continually engaging with the authorities to find a solution,” Bristow said earlier this year in an interview with BNN Bloomberg, rejecting claims that the dispute was beyond repair.
With Hill now at the helm, Barrick’s board is under pressure to reassure investors and reestablish stability. Analysts say that resolving the Mali standoff, securing license renewals due in early 2026, and defining a longer-term leadership plan will be decisive for the company’s credibility and market performance.
