Berkshire Hathaway’s investment in Barrick Gold made huge waves. Ironically, the company of investment legend Warren Buffett, who is not exactly decreed as a huge gold fan, has secured a stake worth around 500 million dollars in the world’s second largest gold producer. Now Barrick Gold’s CEO Mark Bristow speaks out in an interview with Fox Business.“ It is the ultimate privilege to have Berkshire Hathaway as an investor in our society,” says Mark Bristow.
This is a huge step for the entire gold industry. At the same time, however, Bristow stated that he had not spoken to anyone at Berkshire about investing in Barrick Gold. He sees the main advantages of Barrick Gold in the fact that Barrick does not have to pray for the price of gold to rise in order to make a profit. Barrick Gold can do this even with a significantly lower gold price. The shareholders also benefit from this, after all, Barrick Gold recently raised the dividend by 14 percent. Randgold, the company of which Bristow was previously CEO and which Barrick acquired, has been able to raise dividends over a period of 13 years.