Barrick Continues to Unlock Value Embedded in Its Asset Base
Barrick Gold (NYSE:GOLD) projects a 30% growth in gold-equivalent ounce production from existing assets by 2030. The company has six Tier One gold mines with more in development, and is building a substantial copper business. Key growth projects include:
1) Goldrush in Nevada, ramping up to 400,000 oz/year by 2028
2) Fourmile in Nevada, with grades double those of Goldrush
3) Leeville project in Nevada, potentially doubling/tripling Carlin's reserves
4) Reko Diq copper-gold project in Pakistan (400,000t Cu, 500,000 oz Au/year)
5) Lumwana Super Pit in Zambia, doubling production over 30+ year life
Barrick has replaced mined gold reserves over the past 5 years, reduced debt by $3.5B, invested $11.2B in mine plans, and returned $5B to shareholders. Management believes the stock is significantly undervalued based on asset values.
Barrick Gold (NYSE:GOLD) prevede una crescita del 30% nella produzione di once equivalente d'oro dai suoi asset esistenti entro il 2030. L'azienda dispone di sei miniere d'oro di classe Tier One con ulteriori progetti in sviluppo, e sta costruendo un'importante attività nel rame. I progetti chiave per la crescita includono:
1) Goldrush in Nevada, che raggiungerà 400.000 oz/anno entro il 2028
2) Fourmile in Nevada, con gradi doppi rispetto a Goldrush
3) Il progetto Leeville in Nevada, che potrebbe raddoppiare/triplicare le riserve di Carlin
4) Progetto rame-oro Reko Diq in Pakistan (400.000t Cu, 500.000 oz Au/anno)
5) Lumwana Super Pit in Zambia, che raddoppierà la produzione durante una vita di oltre 30 anni
Barrick ha sostituito le riserve d'oro estratte negli ultimi 5 anni, ridotto il debito di 3,5 miliardi di dollari, investito 11,2 miliardi di dollari nei piani minerari e restituito 5 miliardi di dollari agli azionisti. La direzione ritiene che il titolo sia significativamente sottovalutato in base ai valori degli asset.
Barrick Gold (NYSE:GOLD) proyecta un crecimiento del 30% en la producción de onzas equivalentes de oro a partir de sus activos existentes para 2030. La compañía cuenta con seis minas de oro de clase Tier One con más en desarrollo, y está construyendo un negocio sustancial de cobre. Los proyectos clave de crecimiento incluyen:
1) Goldrush en Nevada, aumentando a 400,000 oz/año para 2028
2) Fourmile en Nevada, con grados el doble que los de Goldrush
3) Proyecto Leeville en Nevada, que podría duplicar/triplicar las reservas de Carlin
4) Proyecto de cobre-oro Reko Diq en Pakistán (400,000t Cu, 500,000 oz Au/año)
5) Lumwana Super Pit en Zambia, duplicando la producción durante más de 30 años
Barrick ha reemplazado las reservas de oro extraídas en los últimos 5 años, reducido la deuda en 3.5 mil millones de dólares, invertido 11.2 mil millones de dólares en planes mineros y devuelto 5 mil millones de dólares a los accionistas. La dirección cree que la acción está significativamente infravalorada en función de los valores de los activos.
Barrick Gold (NYSE:GOLD)는 2030년까지 기존 자산에서 금 등가 온스 생산 30% 성장을 예상하고 있습니다. 이 회사는 6개의 Tier One 금광을 보유하고 있으며, 여러 개의 프로젝트가 개발 중입니다. 또한 상당한 구리 사업을 구축 중입니다. 주요 성장 프로젝트는 다음과 같습니다:
1) 네바다의 골드러시, 2028년까지 연간 400,000 oz로 증가
2) 네바다의 포어마일, 골드러시의 두 배 등급
3) 네바다의 리빌 프로젝트, 칼린의 매장량을 두 배 또는 세 배로 늘릴 가능성
4) 파키스탄의 레코 디크 구리-금 프로젝트 (Cu 400,000t, Au 500,000 oz/년)
5) 잠비아의 룸와나 슈퍼핏, 30년 이상의 수명 동안 생산량을 두 배로 늘림
Barrick은 지난 5년 간 채굴된 금 매장량을 대체했으며, 35억 달러의 부채를 줄였고, 광산 계획에 112억 달러를 투자하였으며, 주주에게 50억 달러를 반환했습니다. 경영진은 자산 가치 기준으로 주식이 상당히 저평가되어 있다고 믿고 있습니다.
Barrick Gold (NYSE:GOLD) projette une croissance de 30% de la production d'onces équivalentes d'or à partir des actifs existants d'ici 2030. L'entreprise possède six mines d'or de classe Tier One avec d'autres en développement, et construit une activité substantielle dans le cuivre. Les projets clés de croissance incluent :
1) Goldrush au Nevada, atteignant 400 000 oz/an d'ici 2028
2) Fourmile au Nevada, avec des teneurs deux fois supérieures à celles de Goldrush
3) Projet Leeville au Nevada, pouvant potentiellement doubler/tripler les réserves de Carlin
4) Projet cuprifère-aurifère Reko Diq au Pakistan (400 000 t Cu, 500 000 oz Au/an)
5) Lumwana Super Pit en Zambie, doublant la production sur plus de 30 ans
Barrick a remplacé les réserves d'or extraites au cours des cinq dernières années, réduit la dette de 3,5 milliards de dollars, investi 11,2 milliards de dollars dans les plans miniers et retourné 5 milliards de dollars aux actionnaires. La direction estime que l'action est considérablement sous-évaluée en fonction des valeurs des actifs.
Barrick Gold (NYSE:GOLD) prognostiziert ein 30%iges Wachstum in der Produktion von Goldäquivalenten aus bestehenden Anlagen bis 2030. Das Unternehmen verfügt über sechs Tier-One-Goldminen und entwickelt weitere, während es ein bedeutendes Kupfergeschäft aufbaut. Wichtige Wachstumsprojekte sind:
1) Goldrush in Nevada, das bis 2028 auf 400.000 oz/Jahr hochgefahren wird
2) Fourmile in Nevada, mit doppelten Gehalten im Vergleich zu Goldrush
3) Leeville-Projekt in Nevada, das die Reserven von Carlin potenziell verdoppeln oder verdreifachen könnte
4) Reko Diq Kupfer-Gold-Projekt in Pakistan (400.000t Cu, 500.000 oz Au/Jahr)
5) Lumwana Super Pit in Sambia, das die Produktion über eine Lebensdauer von mehr als 30 Jahren verdoppelt
Barrick hat in den letzten 5 Jahren abgebautes Goldreservoir ersetzt, die Verschuldung um 3,5 Milliarden Dollar reduziert, 11,2 Milliarden Dollar in Bergbaupläne investiert und 5 Milliarden Dollar an die Aktionäre zurückgegeben. Das Management glaubt, dass die Aktie basierend auf den Asset-Werten erheblich unterbewertet ist.
- Projected 30% growth in gold-equivalent ounce production by 2030
- Six Tier One gold mines in portfolio with more in development
- Building substantial copper business alongside gold portfolio
- Key growth projects advancing in Nevada, Pakistan and Zambia
- Replaced mined gold reserves over past 5 years at same or better grades
- Reduced net debt by $3.5 billion since 2019
- Invested $11.2 billion in +10 year life-of-mine plans
- Returned over $5 billion to shareholders since 2019
- Strong operating cash flows to fund growth projects
- Stock price considered undervalued by management, implying market skepticism
Insights
Barrick's projection of 30% growth in gold-equivalent production by 2030 is significant, highlighting strong organic growth potential. The company's focus on Tier One assets and industry-leading grades suggests a robust long-term outlook. Key growth drivers include:
- Goldrush in Nevada ramping up to 400,000 ounces per annum by 2028
- Fourmile project with grades double that of Goldrush
- Leeville project potentially doubling or tripling Carlin's reserves
- Reko Diq copper-gold project targeting 400,000 tonnes of copper and 500,000 ounces of gold annually
- Lumwana Super Pit project set to double production
Financially, Barrick has strengthened its position by reducing net debt by
Barrick's strategy of unlocking value from existing assets rather than pursuing premium-priced acquisitions is prudent in the current market. The company's six Tier One gold mines provide a solid foundation, while the growing copper business offers diversification and exposure to increasing demand for the metal.
The focus on Nevada as a premier mining jurisdiction is strategically sound, given the stable regulatory environment and established infrastructure. The Leeville project's potential to extend Carlin's life beyond 2045 is particularly noteworthy, as it ensures long-term production visibility.
Barrick's success in orebody expansion and reserve replacement at improved grades is a key differentiator in the industry. This ability to organically grow resources reduces the need for costly acquisitions and mitigates depletion risk. The company's strong balance sheet and cash flow generation capability position it well to fund its ambitious growth projects internally.
Barrick's current market valuation presents an intriguing investment case. With the company's interest in Nevada Gold Mines and its copper portfolio nearly matching its entire market capitalization, investors are essentially getting the rest of Barrick's assets at a significant discount. This includes:
- Three Tier One gold mines outside Nevada
- The high-grade Fourmile project
- A pipeline of development projects
- Proven exploration capabilities
The 30% projected growth in gold-equivalent production by 2030 suggests strong upside potential. Barrick's balanced approach to shareholder returns, having distributed over
All amounts expressed in US dollars
COLORADO SPRINGS, Colo., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) – Barrick is projecting a
Speaking at the Gold Forum Americas, Bristow said while Barrick was alert to potentially value-accretive opportunities generated by the consolidation of the industry, it had the rare luxury of doing so from an asset base that would support organic growth well into the future.
“Five years ago, we set out to build a sustainably profitable gold and copper business focused on world-class assets. We did not have to buy them at a premium: they were embedded in the merged portfolio of Barrick and Randgold and we just had to unlock their value,” he said.
“We have six Tier One2 gold mines with more in the making and our long-term plans are based on quality orebodies with industry-leading grades that drive improving cost profiles. Alongside our peerless gold portfolio, we are also building a substantial copper business, both to feed the rising demand for this strategic metal and because it enhances our growth optionality to include copper-gold porphyries.”
Bristow listed three world-class gold opportunities, all in Nevada, which he described as the world’s premier mining jurisdiction. The recently commissioned Goldrush is ramping up to a targeted 400,000 ounces per annum by 2028.3 Bordering on Goldrush is the
On the copper side of the business, two transformative projects are on track for first production in 2028. The Reko Diq copper-gold project in Pakistan is designed to produce 400,000 tonnes of copper and 500,000 ounces of gold per year in the second phase of its development.4 The Lumwana Super Pit project in Zambia will double the mine’s production over a +30-year life.4
“Mining is a consumptive industry which requires constant replacement of the ounces it depletes. Barrick leads the industry in orebody expansion and has more than replaced the gold reserves it has mined over the past five years.6 Even more significantly, the ounces that have been added are at the same or better grade than the reserves that were mined,” Bristow said.
He noted that since 2019, Barrick had also built an industry-leading balance sheet, reducing net debt by
“Considering all this, it’s extraordinary how undervalued Barrick’s shares are. Based on analysts’ consensus net asset value calculations, the value of just our interest in Nevada Gold Mines and our copper portfolio almost exceeds our current market capitalization.7 This means that the rest of our business is only valued at
Barrick enquiries
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Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Technical Information
The scientific and technical information contained in this presentation has been reviewed and approved by Craig Fiddes, SME-RM, Lead, Resource Modeling, Nevada Gold Mines; Richard Peattie, MPhil, FAusIMM, Mineral Resources Manager: Africa and Middle East; Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Resource Management and Evaluation Executive (in this capacity Mr. Bottoms is also responsible on an interim basis for scientific and technical information relating to the Latin America and Asia Pacific region); John Steele, CIM, Metallurgy, Engineering and Capital Projects Executive; and Joel Holliday, FAusIMM, Executive Vice-President, Exploration—each a “Qualified Person” as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
All mineral reserve and mineral resource estimates are estimated in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Unless otherwise noted, such mineral reserve and mineral resource estimates are as of December 31, 2023.
Endnotes
1 Scenario assumes an indicative production profile for Reko Diq and Lumwana, both of which are conceptual in nature. Does not include Fourmile. Refer to the below table for the complete list of Barrick’s outlook assumptions.
| Key Outlook Assumptions | 2024 | 2025 | 2026+ |
| Gold Price ($/oz) | 1,900 | 1,300 | 1,300 |
| Copper Price ($/lb) | 3.50 | 3.00 | 3.00 |
| Oil Price (WTI) ($/barrel) | 80 | 70 | 70 |
| AUD Exchange Rate (AUD:USD) | 0.75 | 0.75 | 0.75 |
| ARS Exchange Rate (USD:ARS) | 800 | 800 | 800 |
| CAD Exchange Rate (USD:CAD) | 1.30 | 1.30 | 1.30 |
| CLP Exchange Rate (USD:CLP) | 900 | 900 | 900 |
| EUR Exchange Rate (EUR:USD) | 1.10 | 1.20 | 1.20 |
Gold equivalent ounces calculated from our copper assets are calculated using a gold price of
Barrick’s five-year indicative outlook is based on our current operating asset portfolio, sustaining projects in progress and exploration/mineral resource management initiatives in execution. This outlook is based on our current reserves and resources and assumes that we will continue to be able to convert resources into reserves. Additional asset optimization, further exploration growth, new project initiatives and divestitures are not included. For the company’s gold and copper segments, and where applicable for a specific region, this indicative outlook is subject to change and assumes the following: new open pit production permitted and commencing at Hemlo in the second half of 2025, allowing three years for permitting and two years for pre-stripping prior to first ore production in 2027; Tongon will enter care and maintenance by 2027; and production from the Zaldívar CuproChlor® Chloride Leach Project (Antofagasta is the operator of Zaldívar).
Our five-year indicative outlook excludes: production from Fourmile; Pierina, and Golden Sunlight, both of which are currently in care and maintenance; and production from long-term greenfield optionality from Donlin, Pascua-Lama, Norte Abierto and Alturas.
Barrick’s ten-year indicative production profile is subject to change and is based on the same assumptions as the current five-year outlook detailed above, except that the subsequent five years of the ten-year outlook assumes attributable production from Fourmile as well as exploration and mineral resource management projects in execution at Nevada Gold Mines and Hemlo.
Barrick’s five-year and ten-year production profile in this presentation also assumes an indicative gold and copper production profile for Reko Diq and an indicative copper production profile for the Lumwana Super Pit expansion, both of which are conceptual in nature.
2 A Tier One Gold Asset is an asset with a
3 Refer to the Technical Report on the Cortez Complex, Lander and Eureka Counties, State of Nevada, USA, dated December 31, 2021, and filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov on March 18, 2022.
4 Indicative production profiles from Fourmile and Lumwana and recovered production profiles from Reko Diq are conceptual in nature and subject to change following completion of Fourmile's pre-feasibility study, Lumwana's feasibility study and Reko Diq's updated feasibility study, respectively. Fourmile is currently
5 “14 million ounce Leeville project” refers to total historical gold production of the Leeville Complex from 2005 to 2023 of 8.5 million ounces (
Estimates of Leeville Complex mineral reserves as of December 31, 2023 on a
- Pete Bajo: Probable mineral reserves of 2.0 million tonnes grading 7.39g/t, representing 0.47 million ounces of gold
- Rita K: Probable mineral reserves of 3.5 million tonnes grading 6.26g/t, representing 0.70 million ounces of gold
- Leeville: Probable mineral reserves of 14 million tonnes grading 9.17g/t, representing 4.2 million ounces of gold
6 Proven and probable reserve gains calculated from cumulative net change in reserves from year end 2019 to 2023. Reserve replacement percentage is calculated from the cumulative net change in reserves from year end 2019 to 2023 divided by the cumulative depletion in reserves from year end 2019 to 2023 as shown in the table below.
| Year | Attributable P&P Gold (Moz) | Attributable Gold Acquisition & Divestments (Moz) | Attributable Gold Depletion (Moz) | Attributable Gold Net Change (Moz) |
| 2019a | 71 | - | - | - |
| 2020b | 68 | (2.2) | (5.5) | 4.2 |
| 2021c | 69 | (0.91) | (5.4) | 8.1 |
| 2022d | 76 | - | (4.8) | 12 |
| 2023e | 77 | - | (4.6) | 5 |
| 2019-2023 Total | N/A | (3.1) | (20) | 29 |
| Totals may not appear to sum correctly due to rounding. | ||||
Attributable acquisitions and divestments includes the following: a decrease of 2.2 Moz in proven and probable gold reserves from December 31, 2019 to December 31, 2020, as a result of the divestiture of Barrick's Massawa gold project effective March 4, 2020; and a decrease of 0.91 Moz in proven and probable gold reserves from December 31, 2020 to December 31, 2021, as a result of the change in Barrick’s ownership interest in Porgera from
All estimates are estimated in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects as required by Canadian securities regulatory authorities.
- Estimates as of December 31, 2019, unless otherwise noted. Proven reserves of 280 million tonnes grading 2.42 g/t, representing 22 million ounces of gold and Probable reserves of 1,000 million tonnes grading 1.48 g/t, representing 49 million ounces of gold.
- Estimates as of December 31, 2020, unless otherwise noted. Proven reserves of 280 million tonnes grading 2.37g/t, representing 21 million ounces of gold and Probable reserves of 990 million tonnes grading 1.46g/t, representing 47 million ounces of gold.
- Estimates as of December 31, 2021, unless otherwise noted. Proven mineral reserves of 240 million tonnes grading 2.20g/t, representing 17 million ounces of gold and Probable reserves of 1,000 million tonnes grading 1.60g/t, representing 53 million ounces of gold.
- Estimates as of December 31, 2022, unless otherwise noted. Proven mineral reserves of 260 million tonnes grading 2.26g/t, representing 19 million ounces of gold and Probable reserves of 1,200 million tonnes grading 1.53g/t, representing 57 million ounces of gold.
- Estimates are as of December 31, 2023, unless otherwise noted. Proven mineral reserves of 250 million tonnes grading 1.85g/t, representing 15 million ounces of gold. Probable reserves of 1,200 million tonnes grading 1.61g/t, representing 61 million ounces of gold
| Barrick Market Capi | | | |
| | Analyst Consensus NAVii | Market Based P/NAV Multiple | Implied Valueiv |
| Nevada Gold Mines ( | 1.86xiii | ||
| Barrick Copper Assets (including Reko Diq | At Least 1.1xv | At least | |
| Combined Implied Value of NGM & Copper Assets | | At least | |
| Implied Value of Rest of Barrick | | 0.21x | |
i. Per CIBC Mining Comps as of September 13, 2024.
ii. Per CIBC Mining Comps as of September 13, 2024, corporate adjustments apportioned across assets proportional to NAV.
iii. Based on Agnico’s P/NAV multiple, per CIBC Mining Comps as of September 13, 2024.
iv. Implied value equal to analyst NAV times the market based P/NAV multiple.
v. In line with the copper peer average of 1.1x, per CIBC Mining Comps as of September 13, 2024.
Data sources: Company Disclosure, Fraser Institute and S&P CapitalIQ.
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “expect”, “strategy”, “target”, “guidance”, “ramp up”, “design”, “project”, “continue”, “additional”, “growth”, “potential”, “future”, “focus”, “on track”, “developing”, “scheduled”, “in the making”, “will”, “can”, “could” and similar expressions identify forward-looking statements. In particular, this presentation contains forward-looking statements including, without limitation, with respect to: Barrick’s forward-looking production guidance, including our five and ten year outlooks, and anticipated production growth from Barrick’s organic project pipeline and reserve replacement; the estimated net asset value of our portfolio, including Reko Diq and the Lumwana Super Pit expansion, and the market based P/NAV multiples at which these assets would trade and implied value; the financial performance of the Lumwana Super Pit expansion; the potential to increase reserves at Carlin two to three times from exploration and the ability to extend its life of mine; estimates of future costs and projected future cash flows, capital, operating and exploration expenditures and mine life and production rates; material increases in production volumes at Pueblo Viejo, Porgera and Lumwana; our ability to convert resources into reserves and replace reserves net of depletion from production; mine life and production rates; our plans and expected completion and benefits of our growth projects, including the ramp up at Goldrush, timing for the pre-feasibility study decision and anticipated gold production at Fourmile, anticipated annual production, targeted first production and completion of the feasibility study at Reko Diq, the Pueblo Viejo plant expansion and the anticipated timeline for the completion of a feasibility study and first production for the Lumwana Super Pit and its ability to extend its life of mine; estimated copper production at Reko Diq and from the Lumwana Super Pit expansion, including projected mining rates; estimates of future costs and projected future cash flows, capital, operating and exploration expenditures and mine life and production rates; the potential for Reko Diq, Lumwana and Fourmile to become Tier One assets and the potential for Lumwana to become a top 25 copper asset; Barrick’s global exploration strategy and planned exploration activities; Barrick’s copper strategy; our pipeline of high confidence projects at or near existing operations; potential mineralization and metal or mineral recoveries; joint ventures and partnerships; Barrick’s strategy, plans, targets and goals in respect of environmental and social governance issues; and expectations regarding future price assumptions, financial performance and other outlook or guidance.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this presentation in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: the potential to convert all or part of the mineral resource for the Super Pit expansion into a mineral reserve following the completion of the feasibility study; risks related to competition in the mining industry; fluctuations in the spot and forward price of gold, copper or certain other commodities (such as silver, diesel fuel, natural gas and electricity); risks associated with projects in the early stages of evaluation and for which additional engineering and other analysis is required; risks related to the possibility that future exploration results will not be consistent with the Company’s expectations, that quantities or grades of reserves will be diminished, and that resources may not be converted to reserves; risks associated with the fact that certain of the initiatives described in this presentation are still in the early stages and may not materialize; changes in mineral production performance, exploitation and exploration successes; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; the speculative nature of mineral exploration and development; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with artisanal and illegal mining; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Canada, the United States or other countries in which Barrick does or may carry on business in the future; risks relating to political instability in certain of the jurisdictions in which Barrick operates; timing of receipt of, or failure to comply with, necessary permits and approvals; non-renewal of or failure to obtain key licenses by governmental authorities; failure to comply with environmental and health and safety laws and regulations; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations relating to greenhouse gas emission levels, energy efficiency and reporting of risks; Barrick’s ability to achieve its sustainability goals, including its climate-related goals and greenhouse gas emissions reduction targets; the liability associated with risks and hazards in the mining industry, and the ability to maintain insurance to cover such losses; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; risks related to operations near communities that may regard Barrick’s operations as being detrimental to them; litigation and legal and administrative proceedings; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in the maintenance or provision of required infrastructure and information technology systems; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; risks associated with working with partners in jointly controlled assets; risks related to disruption of supply routes which may cause delays in construction and mining activities; risks associated with Barrick’s infrastructure, information technology systems and the implementation of Barrick’s technological initiatives, including risks related to cybersecurity incidents, including those caused by computer viruses, malware, ransomware and other cyberattacks, or similar information technology system failures, delays and/or disruptions; employee relations including loss of key employees; availability and increased costs associated with mining inputs and labor; and risks associated with diseases, epidemics and pandemics. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this presentation are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this presentation.
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
FAQ
What is Barrick Gold's (NYSE:GOLD) production growth projection for 2030?
How many Tier One gold mines does Barrick Gold (NYSE:GOLD) currently operate?
What is the production target for Barrick's (NYSE:GOLD) Goldrush project in Nevada?
What are the projected production figures for Barrick's (NYSE:GOLD) Reko Diq project?
How much has Barrick Gold (NYSE:GOLD) reduced its net debt since 2019?
