The Newcrest acquisition by Newmont, if successful, could result in the enlarged company shedding some assets. Bristow stuck to the company's 'build, not buy' approach and ruled out the possibility that Barrick would launch a counter bid for Newcrest. Newmont's offer implied a 21% premium to Newcrest's share price. Barrick last month reported a 13.4% rise in gold production as access to high-grade ore at its Cortez and Carlin mines in Nevada powered a "strong finish" to the fourth quarter. Production for the year, however, was 4.1 million ounces of gold, down from 4.4 million ounces in 2021.

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