The Financial Post reports in its Thursday, Aug. 10, edition that Barrick Gold chief executive officer Mark Bristow says some of the world's biggest resource companies have been "forced" into mergers and acquisitions after failing to grow their reserves, but he does not feel compelled to follow suit. The Post's Naimul Karim writes that Mr. Bristow believes Barrick has the luxury of sidestepping that trend because of its focus on growing through exploration in recent years. Mr. Bristow says: "If there is one thing that sets Barrick apart, and I know it's not snazzy and it doesn't require M&A and all that other stuff, it has been our ability to deliver sustained and significant growth in our reserves. We have replaced 125 per cent of the gold that we have mined. ... Many of our peers have been forced into M&A because they haven't been able to replace the ounces that they have mined." The mining industry has seen significant consolidation in the past year as prices have risen and mineral deposits have become depleted. Barrick earned $305-million (U.S.) in net income for the quarter that ended on June 30, a 38-per-cent drop from $488-million (U.S.) during the same period a year earlier.