His comments come as Barrick is about to gain full control of Acacia Mining’s (LSE: ACA) African assets after Acacia, hobbled by disputes with the government of Tanzania, agreed to a revised takeover offer on Friday.
Bristow pointed to “extensive exploration work” in Côte d’Ivoire as Barrick looks to extend the Tongon gold mine’s life.
The former Randgold Resources mine, which Barrick gained in the pair’s merger at the start of this year, has less than three years left based on current reserves, Bristow said.
“We hope to extend that by converting near-mine resources to reserves, exploring the potential of satellite deposits and probing targets along the Badenou trend in the Tongon lease area,” he said.
He also referred to exploration underway on all Barrick’s permits which covered “the most prospective parts” of Côte d’Ivoire but said success depended in part on the government’s continued support in processing applications and facilitating access to permits.
A company presentation stated illegal mining was “still a challenge” on its permits and the phenomenon was becoming more of a social issue, saying all key actors including the government would deal with the issue.
