Barrick Gold Achieves Strong Q4 Growth, Forecasts 2025 Gold Production Between 3.15Moz and 3.5Moz<\/p>\n
Canadian mining giant Barrick Gold has reported a significant 15% increase in gold production and a 33% rise in copper output in Q4 2024 compared to the previous quarter. This impressive growth has enabled the company to meet its annual guidance, with full-year attributable gold production reaching 3.91 million ounces (Moz).<\/p>\n
Barrick Gold Increases Reserves and Extends Asset Life<\/p>\n
Barrick announced a 23% surge in gold mineral reserves in 2024, bringing the total to 89Moz at 0.99 grams per tonne (g\/t). A key driver of this expansion was the conversion of resources to reserves at Reko Diq, following a feasibility study, which added 13Moz of gold at 0.28g\/t. This marks the fourth consecutive year of reserve replacement at a 4% higher grade, ensuring asset longevity and sustained quality.<\/p>\n
Record Financial Performance in 2024<\/p>\n
The company achieved its highest financial performance in over a decade:<\/p>\n
Net earnings surged by 69% to $2.14 billion.<\/p>\n
Attributable EBITDA climbed 30% to $5.19 billion.<\/p>\n
Operating cash flow rose by 20% to $4.49 billion.<\/p>\n
Free cash flow more than doubled to $1.32 billion, fueled by robust earnings.<\/p>\n
Quarterly dividend remained steady at $0.10 per share.<\/p>\n
Shareholders received $498 million in buybacks.<\/p>\n
Barrick introduced a new $1 billion share repurchase program for 2025.<\/p>\n
Copper Reserves Experience Significant Growth<\/p>\n
Barrick also reported an extraordinary 224% year-on-year increase in attributable copper mineral reserves, reaching 18 million tonnes (Mt) at 0.45% grade, a sharp rise from 5.6Mt at 0.39% in 2023. This growth follows feasibility studies at Lumwana and Reko Diq, confirming them as Tier One copper assets and adding 13Mt of new copper reserves, equivalent to 73Moz of gold.<\/p>\n
2025 Production Outlook and Strategic Developments<\/p>\n
Looking ahead, Barrick forecasts attributable gold production between 3.15Moz and 3.5Moz in 2025, excluding Loulo-Gounkoto due to its temporary suspension. Copper production is expected to increase to 200,000\u2013230,000 tonnes from 195,000 tonnes in 2024.<\/p>\n
The company\u2019s Fourmile project continues its progress towards prefeasibility, driven by an extensive 2024 drilling program.<\/p>\n
CEO Mark Bristow\u2019s Perspective on Growth and Market Position<\/p>\n
Barrick\u2019s CEO Mark Bristow remains optimistic about the company\u2019s long-term value and self-funded growth strategy. Addressing concerns about Mali’s ongoing issues, he reassured investors:<\/p>\n
\u201cWhile Mali remains a concern for investors, weighing down our stock price, Barrick\u2019s fundamental value has never been stronger. We have leveraged the undervaluation of our shares by increasing repurchases and renewing our $1 billion share buyback program for the coming year.\u201d<\/p>\n
Bristow emphasized Barrick\u2019s self-sustaining growth model, unlike competitors that rely on expensive mergers and acquisitions or issuing new equity:<\/p>\n
\u201cOur ability to self-fund our growth pipeline is a major strength. We prioritize quality Tier One assets, continuous talent development, a strong balance sheet, and a proven track record of replacing mined reserves. These factors make Barrick Gold the go-to stock for investors looking for sustainable growth in the mining sector.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Barrick Gold Achieves Strong Q4 Growth, Forecasts 2025 Gold Production Between 3.15Moz and 3.5Moz Canadian mining giant Barrick Gold has …<\/p>\n","protected":false},"author":1,"featured_media":14230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_title":"","rank_math_description":"","rank_math_focus_keyword":"","rank_math_keywords":"","footnotes":""},"categories":[16,2],"tags":[],"class_list":["post-14229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-marketing"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts\/14229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14229"}],"version-history":[{"count":1,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts\/14229\/revisions"}],"predecessor-version":[{"id":14231,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts\/14229\/revisions\/14231"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/media\/14230"}],"wp:attachment":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}