Barrick Announced Significant Progress to Key Growth Projects

SEATTLE (Scrap Monster): In its annual report, Barrick Gold Corporation highlighted the noteworthy advancements made in its main expansion initiatives. The business also reaffirmed its dedication to expansion.

The business finished feasibility studies for the Reko Diq project in Pakistan and the Lumwana Super Pit Expansion in Zambia in 2024. With Lumwana contributing 8.3 million tonnes of copper reserves2 and Reko Diq contributing 13 million ounces of gold reserves and 7.3 million tonnes of copper reserves on an attributable basis, both of the aforementioned projects demonstrated their Tier One potential.

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The study states that the Pueblo Viejo expansion in the Dominican Republic has made further strides toward a production target of 800,000 ounces annually. The ramp-up of the Goldrush mine in Nevada proceeded according to schedule. Additionally, the Fourmile project, which is close by, has progressed to the prefeasibility stage.

The business keeps one of the best financial sheets in the sector, according to president and CEO Mark Bristow. The company's sound financial standing puts it in a position to increase future investments and supply more money for the development projects in Lumwana and Reko Diq. According to Bristow, the business is still committed to expanding its sustainable initiatives.