https://amp.ft.com/content/c2ff0cb4-0211-11ea-b7bc-f3fa4e77dd47

Barrick Gold is looking for opportunities to grow its copper business through either exploration or acquisitions, according to its chief executive Mark Bristow.

Copper is viewed as having the best fundamentals of any commodity, with demand tipped to rise over the medium term as the world shifts to cleaner energy just as supply is pressured by falling grades at ageing mines.

As a result, most of the world’s big mining companies are trying to find ways to increase their exposure to the metal.

Where we have opportunities to secure or expand our copper footprint, we will,” Mr Bristow told the Financial Times in an interview. 

Hailing copper as a “strategic” metal, Mr Bristow said he was already looking at some exciting copper projects in South America but was also prepared to consider acquisitions.

“It is more strategic than cobalt, more strategic than lithium. You can’t replace copper on conductivity. It is a modern metal,” he said. 

The added attraction of copper for Barrick is that it is often mined alongside gold in the Americas and shares common processing techniques.