(MT Newswires) -- Barrick Gold CEO Mark Bristow reports better-than-expected results and adds that a new share buyback programme for investors will be introduced. He maintains that high interest rates will persist due to ongoing problems in the global and US economies, suggesting inflationary pressures and a risk of stagflation that could push gold prices higher.
 
In terms of corporate strategy, Bristow says that capital allocation decisions at Barrick Gold are not driven by current or short-term gold prices, but rather by a medium- to long-term outlook, aiming for stable returns regardless of market conditions.
 
He mentions that the company intends to broaden its portfolio beyond gold by focusing on the Reko Diq project in Pakistan, a gold and copper mine. He also explains the company's selective approach to M&A, stressing the importance of not paying an exorbitant premium that could prevent returns on investment.
 
Bristow sees a trend towards de-dollarisation in emerging economies, making gold attractive in order to diversify their reserves and reduce their dependence on the US dollar.

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