(Adds context, gold price in paragraphs 2-4, quotes and context
in paragraph 6-9)
By Divya Rajagopal
TORONTO, Aug 11 (Reuters) - Barrick Mining ( B ) CEO
Mark Bristow said on Monday that the gold industry is awaiting
clarity from the White House regarding potential U.S. tariffs on
gold bars, but added that, regardless of the outcome, the impact
on miners would be minimal.
According to a ruling published on the U.S. Customs and
Border Protection service's website on Friday, Washington may
place the most widely traded gold bullion bars in the U.S. under
country-specific import tariffs.
A White House official later
told Reuters
it would issue an executive order "clarifying
misinformation".
The ruling has disrupted global bullion flows and
injected fresh volatility into gold markets. Gold
prices fell
2.4% on Monday.
"Let's see how things are clarified, because right now
it is speculation," Bristow told Reuters in an interview.
He said gold miners are "price takers", meaning they
could actually benefit from higher prices if that was the end
result of the U.S. tariff turmoil.
Barrick beat analysts' expectations for second-quarter
profit on Monday, as a surge in gold prices helped offset a drop
in production, including from Mali, where it is involved in a
prolonged dispute with the country's military government.
Barrick was forced to suspend operations in mid-January
after Mali blocked its exports and detained some of its
executives.
Reuters reported last month that a Malian military
helicopter airlifted gold from its Loulo-Gounkoto complex just
days after sources said a court-appointed administrator for the
site planned to sell its bullion to finance operations.
Bristow told Reuters the company has not considered selling
Loulo-Gounkoto to a third party at this stage, even as Barrick
recorded a $1.03 billion charge due to its loss of control of
the mine.