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Bristow blasts lack of exploration

“Miners do not represent creating value despite the increasing gold price. At best they are a recovery from critical to stable. The industry as a whole has failed to manage cyclicality,” Mark Bristow, CEO of Randgold Resources (LN:RRS), told delegates at the Denver Gold Forum in Colorado Springs, Colorado.

Exploration / Development > Events-coverage

Bristow blasts lack of exploration

“Miners do not represent creating value despite the increasing gold price. At best they are a recovery from critical to stable. The industry as a whole has failed to manage cyclicality,” Mark Bristow, CEO of Randgold Resources (LN:RRS), told delegates at the Denver Gold Forum in Colorado Springs, Colorado.

Bristow blasts lack of exploration

Bristow said gold mining equities had underperformed the gold price over the past 10-20 years due to what he called “a chronic commitment to the short term” that meant companies stopped investing in exploration during the market troughs, even though this was essential to long-term business growth.