Barrick Gold sets sights on 30 per cent production growth by 2030

• Barrick Gold (TSX:ABX) is advancing its portfolio of growth projects to support a planned 30 per cent increase in gold equivalent ounces by the end of the decade, according to chairman John Thornton
• The company said that despite a challenging operating environment, Barrick met its gold and copper production guidance for 2024 and maintained its unmatched record of reserve replacement while significantly expanding its resource base
• Despite rising metal prices, mining equities have underperformed, however, Barrick improved its financial performance, achieving a 69 per cent increase in net earnings
• Barrick Gold stock (TSX:ABX) last traded at C$25.11

Barrick Gold (TSX:ABX) is advancing its portfolio of growth projects to support a planned 30 per cent increase in gold equivalent ounces by the end of the decade, according to chairman John Thornton.

In the company’s 2025 information circular, Thornton highlighted that despite a challenging operating environment, Barrick met its gold and copper production guidance for 2024 and maintained its unmatched record of reserve replacement while significantly expanding its resource base.

Thornton noted that despite rising metal prices, mining equities have underperformed, with Barrick being no exception. However, the company improved its financial performance, achieving a 69 per cent increase in net earnings—the highest in a decade—along with 20 per cent growth in operating cash flow and a doubling of free cash flow compared to 2023.

The Board has appointed new chairs for its key committees: Isela Costantini for the compensation committee, Loreta Silva for the audit and risk committee, and Brian Greenspun for the environmental, social, governance and nominating committees.

Gold equivalent ounces calculated from our copper assets are calculated using a gold price of $1,400/oz and copper price of $3.00/lb. Barrick’s five-year indicative production profile for gold equivalent ounces is based on the following assumptions:

Barrick will host a virtual meeting format for this year’s annual and special meeting, allowing shareholders to attend via live webcast regardless of their geographic location. The meeting will be held on Tuesday, May 6th, 2025, at 10:00 a.m. Eastern time.

Barrick Gold Corp. is a Canadian gold and copper producer engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. 

Barrick Gold stock (TSX:ABX) last traded at C$25.11 and has risen 3.55 per cent since this time last year.

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(Top image generated with AI.)