Barrick Gold Corp ABX.TO Chief Executive Officer Mark Bristow...

Barrick Gold Corp ABX.TO Chief Executive Officer Mark Bristow said on Monday that his company's $18 billion hostile bid for rival Newmont Mining Corp NEM.N is a "logical" tie-up that would generate value for shareholders of both companies.

"This gold industry needs to become more relevant to investors," Bristow said in an interview on the sidelines of the BMO Global Metals & Mining Conference in Florida. "This deal drives a further rationalization in our industry."