Barrick Gold Eyes 30-percent Growth in Gold-Equivalent Production by 2030

KEY POINTS

• Barrick Gold is projecting a 30 percent growth in gold-equivalent production by 2030.  
• The company is focused on maximizing value from existing assets without acquiring new ones.  
• Barrick is expanding its copper operations to meet rising demand for the metal.

As Barrick Gold continues to unlock value from its portfolio, CEO Mark Bristow announced at the Gold Forum Americas that the company is projecting a 30% increase in gold-equivalent ounce production from its existing assets by the end of the decade.

According to a report by Mining Review.com,  Barrick had the unusual advantage of being able to take advantage of value-accretive opportunities presented by the industry consolidation because its asset base will continue to support organic growth for an extended period of time. Our goal five years ago was to create a world-class asset-focused, profitably sustainable gold and copper company, Bristow added. 

Unlocking value from Barrick’s extensive portfolio

“They were already part of Barrick and Randgold’s combined portfolio, so there was no need to acquire them at a premium—we just had to unlock their value,” he said.

He further stated, “Our long-term plans are based on quality orebodies with industry-leading grades that drive improving cost profiles. We currently have six Tier One gold mines and more are in the works “

“In addition to our exceptional gold holdings, we are developing a sizable copper business to meet the growing need for this vital metal and to expand our capacity to offer copper-gold porphyries.”

Nevada’s gold prospects poised for expansion

“The 14 million-ounce Leeville project, located in Nevada, is growing into a significant economic engine that has the potential to double or triple Carlin’s reserves and prolong its life past 2045” he concluded.