Barrick Gold is celebrating a strong fourth quarter, increasing gold production by 15 per cent and copper by 33 per cent.
Net earnings also increased, up 69 per cent to $2.14 billion, while earnings before interest, taxes, depreciation and amortisation also rose to its highest in over a decade at $5.19 billion.
“Barrick remains focused on sustainable value creation for all our stakeholders and as our results today clearly demonstrate, we have the asset quality, balance sheet strength and organic growth projects to deliver on our vision well into the future,” Barrick president and chief executive Mark Bristow said.
Barrick also grew grew attributable gold reserves at Porgera by 22 per cent year-on-year with the successful conversion of the open pit link cutback adjacent to the west wall cutback.
Attributable proven and probable gold mineral reserves increased by 17.4 million ounces (23 per cent) before 2024 depletion.
“Our ability to self-fund our growth pipeline is a major strength,” Bristow said.
“Our focus on a quality Tier 1 asset portfolio, continuous talent development, growth potential, robust balance sheet and unparalleled track record in replacing the reserves we mine, are the key reasons why we should be the go-to stock.”
Attributable gold production is expected to be in the range of 3.15–3.5 million ounces in 2025, while copper is expected to increase from 195,000 tonnes in 2024 to 200,000–230,000 tonnes in 2025.
Subscribe to PNG Mining and receive the latest news on product announcements, industry developments, commodities and more.
