Barrick Gold plans to achieve 30% growth in production by 2030

From GlobeNewswire: 2025-04-04 17:35:00

Barrick Gold Corporation, a leading gold and copper company, plans to achieve a 30% growth in gold equivalent ounces by the end of the decade. Despite challenges in the operating environment, Barrick met its 2024 goals, with a 69% increase in net earnings, 20% growth in operating cash flow, and doubled free cash flow relative to 2023. The company is advancing projects like Pueblo Viejo and Lumwana Expansion to support production growth. Barrick also plans to change its name to Barrick Mining Corporation to reflect its evolving production profile. The company’s 2025 Information Circular highlights its achievements and future strategies.

The Board of Barrick is focused on board renewal, with new members nominated for election at the Annual and Special Meeting. Ben van Beurden and Pekka Vauramo are nominated, while Christopher Coleman and Andy Quinn will retire. New chairs for key committees have been appointed. Barrick will host a virtual Annual and Special Meeting on May 6, 2025, allowing shareholders to participate online. The company’s Tier One assets and projects are strategically positioned for long-term growth, with a focus on sustainability and profitability.

Barrick’s forward-looking statements include plans for sustainable growth, exploration initiatives, reserve replacement, and shareholder returns. The company acknowledges risks associated with commodity price fluctuations, project development, geopolitical factors, and environmental challenges. Management remains committed to achieving its strategic goals and enhancing shareholder value. Barrick’s financial strength, global portfolio, and commitment to responsible mining practices position it for long-term success in the industry.



Read more at GlobeNewswire: Future-Focused Barrick Sets Sights on 30% Production Growth