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Barrick Mining Corporation

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Barrick Mining Corporation
Company typePublic
IndustryMetals and mining
Founded1983; 42 years ago (1983)
FounderPeter Munk
Headquarters
Canada
ProductsGold, silver, copper
RevenueDecrease US$11.985 billion (Fiscal Year Ended December 31, 2021)[1]
Websitewww.barrick.com Edit this at Wikidata

Barrick Mining Corporation is a mining company that produces gold and copper. It has mining operations and projects in Argentina, Canada, Chile, Côte d'Ivoire, Democratic Republic of the Congo, Dominican Republic, Ecuador, Egypt, Mali, Pakistan, Papua New Guinea, Peru, Saudi Arabia, Senegal, Tanzania, the United States and Zambia.[2] In 2024, it produced 3.91 million ounces of gold at all-in sustaining costs of $1,484/ounce[3] and 195,000 tonnes of copper at all-in sustaining costs of $3.45/pound.[3] As of 31 December 2024, the company had proven and probable reserves of 89 million ounces of gold and 18 million tonnes of copper.[3]

Barrick had been the world's largest gold mining company until Newmont Corporation acquired Goldcorp in 2019.[4] Barrick expects to produce between 4.6 and five million ounces of gold and between 440 and 500 million pounds of copper in 2020.[5]

Carbon footprint

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Barrick Gold reported total CO2e emissions (Direct + Indirect) for 31 December 2020 at 7,351 Kt.[6] It has set a greenhouse gas emissions reduction target of 30% and will be net-zero carbon emissions by 2050.[7] At its operations in the United States, Barrick is transitioning away from coal to natural gas and solar power, in an effort to reduce emissions.[8]

Operations

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Gold

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Property Country Ownership Mine Type 2025 Gold Production (ounces)[3] 2024 Gold Production (ounces)[3] 2024 Gold Reserves (ounces)[3]
Veladero  Argentina 50% Open Pit 190,000 – 220,000 252,000 1.6 million
Hemlo  Canada 100% Open Pit, Underground 140,000 – 160,000 143,000 1.6 million
Tongon  Ivory Coast 89.7% Open Pit 110,000 – 140,000 148,000 620,000
Pueblo Viejo  Dominican Republic 60% Open Pit 370,000 – 410,000 352,000 12 million
Loulo-Gounkoto  Mali 80% Open Pit, Underground 578,000 7.3 million
Kibali  Democratic Republic of the Congo 45% Open Pit, Underground 310,000 – 340,000 309,000 4.6 million
Porgera  Papua New Guinea 47.5% Open Pit, Underground 70,000 - 95,000 46,000 1.5 million
North Mara  Tanzania 100% Open Pit, Underground 230,000 – 260,000 265,000 2.9 million
Bulyanhulu  Tanzania 100% Underground 150,000 – 180,000 168,000 3.8 million
Nevada Gold Mines  United States 61.5% Open Pit, Underground 1.54 – 1.7 million 1.65 million 26.6 million

Copper

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Property Country Ownership Mine Type 2025 Copper Production (tonnes)[3] 2024 Copper Production (tonnes)[3] 2024 Copper Reserves (tonnes)[3]
Zaldívar  Chile 50% Open Pit 40,000 – 45,000 40,000 0.75 million
Jabal Sayid  Saudi Arabia 50% Underground 25,000 – 35,000 32,000 0.28 million
Lumwana  Zambia 100% Open Pit 125,000 – 155,000 123,000 8.3 million

Mining practices

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Environmental and human rights violations have taken place around a number of mining operations. They are now closed or were previously operated by a different company, including violence in Papua New Guinea and Tanzania.[9][10][11] Forty people were arrested in Chile following a demonstration against the potential environmental impacts of a mining project. Executives of Acacia Mining had faced charges of bribery, conspiracy, forgery, money-laundering, tax-evasion and environmental damage.[12][13][14][15] There has also been small groups of opposition in the Dominican Republic.[16]

References

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  1. ↑ "Barrick Q4 2021 Results Release". EDGAR System. U.S. Securities and Exchange Commission. February 16, 2022.
  2. ↑ "Barrick Gold Corporation – Operations". Retrieved April 10, 2025.
  3. ↑ 3.0 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 Barrick Gold Corporation (February 12, 2025). "Management's Discussion and Analysis ("MD&A") Fourth Quarter and Full Year 2024" (PDF). www.barrick.com. Barrick Gold Corporation. Retrieved April 9, 2025.
  4. ↑ McNish, Jacquie; MacDonald, Alistair (January 14, 2019). "Newmont to Buy Goldcorp, Creating World's Largest Gold Miner". The Wall Street Journal.
  5. ↑ Jamasmie, Cecilia (May 6, 2020). "Barrick Cuts 2020 Guidance, Faces $191M Bill in PNG". Mining.com. Retrieved February 14, 2022.
  6. ↑ "Barrick Gold's Sustainability Report for 2020Q4" (PDF). Archived from the original (PDF) on June 10, 2021. Alt URL Archived 2021-09-28 at the Wayback Machine
  7. ↑ "Barrick Gold raises greenhouse gas emission reduction target to 30%". Reuters. April 8, 2021.
  8. ↑ McGee, Niall (October 5, 2021). "World's top mining companies, including Canada's Barrick Gold and Teck, pledge net-zero emissions by 2050". The Globe & Mail.
  9. ↑ Gray-Donald, David (9 May 2016). "Barrick Gold rules – horror stories from the frontline". NOW Toronto.
  10. ↑ "Acacia Mining Pressed Over Deaths in Tanzania". The Financial Times. July 23, 2017.
  11. ↑ "Police set hundreds of homes ablaze near Porgera gold mine". Amnesty International. 10 June 2014.
  12. ↑ Ensign, Rachel Louise and Christopher M. Matthews (18 June 2014). "Barrick Gold Unit is Accused of Bribery in Africa". The Wall Street Journal.
  13. ↑ York, Geoffrey (19 October 2018). "Barrick subsidiary seeks new strategy after latest criminal charges in Tanzania". The Globe and Mail.
  14. ↑ MacDonald, Alistair; Bariyo, Nicholas (August 29, 2019). "Britain's Fraud Office Investigates Acacia Mining". WSJ.
  15. ↑ "Tanzania's firebrand leader takes on its largest gold miner". The Economist. 15 June 2017.
  16. ↑ "DomRep residents, NGOs call for Barrick's tailings plans to be stopped". BNAmericas. September 20, 2021.

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Other websites

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Official website

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