Barrick Gold Plans for Future Growth with Expanded Projects and Partnerships

Barrick Gold announced Friday that it is making significant progress towards building a sustainable future, leveraging a focused asset portfolio and a strategy aimed at uncovering and unlocking value while fostering productive partnerships in its host countries.

Speaking to investors in New York, President and CEO Mark Bristow detailed the company's achievements since its merger, emphasizing Barrick's strong financial performance. Since the merger, Barrick has generated $23 billion in operating cash flow, invested $15 billion in its operations and growth projects, reduced net debt by nearly $4 billion, and returned over $5 billion to shareholders.

“Our world-class projects are set to deliver a new growth phase, and our targeted exploration programs are on course to maintain Barrick’s unmatched record of reserve replacement, which allows us to project a 10-year production profile,” said Bristow.

Barrick has been expanding its footprint in Latin America, opening up new opportunities in Chile, Peru, and Ecuador, while continuing to exploit value within its existing asset portfolio. In Nevada, significant progress is being made on mine extension projects at Leeville, Goldrush, Hanson, Robertson, Swift, and new extensions to Turquoise Ridge. The newly permitted Goldrush mine is ramping up production, and the adjacent Fourmile project, which is wholly owned by Barrick, is emerging as a major asset.

A preliminary economic assessment at Fourmile, based on conservative mining rates and costs from the current Goldrush mine plan, has highlighted the potential for annual operating cash flows at least 70% higher than the already world-class Goldrush project.

Bristow emphasized Barrick's commitment to sustainability, stating that it is central to the company's operations. “Our holistic approach to sustainability enables us to maximize the value of our gold assets while building a world-class copper business. It also supports a partnership model that benefits all stakeholders, ensures free cash flow generation for growth projects, and builds a strong balance sheet for disciplined shareholder returns. Importantly, it also attracts the best talent by aligning with the values of a new generation,” Bristow said.