Barrick Gold (TSX:ABX) projects a 30 per cent growth in gold-equivalent production from its existing asset base by 2030.
A news release Tuesday detailed company CEO Mark Bristow unveiling Barrick’s outlook at this week’s Gold Forum Americas taking place between Sunday and Wednesday in Colorado Springs, Colorado.
“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,” Bristow said.
Bristow added that Barrick has six Tier 1 gold mines, with additional ones coming down the pipeline. Bristow specifically highlighted three world-class gold opportunities, all in Nevada, which he described as the world’s premier mining jurisdiction.
These include the recently commissioned Goldrush, which has a production target of 400,000 ounces by 2028. Next to Goldrush is Fourmile, which has returned grades double those of Goldrush. Bristow then highlighted the 14-million-ounce Leeville project, which could double or triple the company’s reserves at Carlin, extending its life beyond 2045.
Additionally, since 2019, Bristow explained that Barrick has reduced its net debt by US$3.5 billion, invested $11.2 billion in 10-year life-of-mine plans for its key mines and returned more than $5 billion to shareholders.
Barrick Gold is a Canada-based gold and copper producer and has ownership interests in producing gold mines in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of the Congo, the Dominican Republic, Mali, Tanzania and the United States.
Shares of Barrick Gold (TSX:ABX) were down 0.11 per cent, closing at C$27.85 Tuesday.
