Barrick Gold Reports Strong Progress and Future Growth Potential
New York, Nov. 22, 2024 (GLOBE NEWSWIRE) – Barrick Gold Corporation (NYSE:GOLD) outlined substantial advancements in its strategic positioning and financial performance during an investor presentation today. Since merging, the company has generated an impressive $23 billion in operating cash flow, allocated $15 billion towards operations and growth initiatives, significantly reduced net debt by nearly $4 billion, and returned over $5 billion to shareholders.
CEO Mark Bristow emphasized the company’s commitment to organic growth, particularly through multiple mine extension projects in Nevada, including the Leeville, Goldrush, Hanson, Robertson, Swift, and Turquoise Ridge mines. The newly permitted Goldrush mine is ramping up production, while the adjacent Fourmile project is projected to deliver annual operating cash flows that could exceed Goldrush’s by 70%, marking it as a world-class asset in the making.
Bristow highlighted Barrick’s focus on sustainability and stakeholder partnerships, which form the backbone of its operations. The company is not only enhancing its gold assets but is also establishing a robust copper business, positioning itself for long-term growth.
"This holistic approach to sustainability is essential as we expand our portfolio in regions such as Chile, Peru, and Ecuador,” Bristow stated. “In Nevada, we’re making significant progress, and our projects are strategically designed to ensure a ten-year production profile visibility for investors."
As Barrick Gold continues to leverage its Tier One asset portfolio, investors can expect a guided trajectory of growth supported by effective cash flow management and strategic project development. The webcast of today’s presentation can be viewed at www.barrick.com.
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