Barrick Gold logo on a tablet device
(Source: Adobe Stock)
  • Barrick Gold (TSX:ABX) projects a 30 per cent growth in gold-equivalent production from its existing asset base by 2030
  • Company CEO Mark Bristow revealed the company’s outlook at this week’s Gold Forum Americas taking place between Sept. 15 and Sept. 18 in Colorado Springs, Colorado
  • The company has six Tier 1 gold mines with additional ones coming down the pipeline
  • Shares of Barrick Gold were down 0.11 per cent, closing at C$27.85

Barrick Gold (TSX:ABX) projects a 30 per cent growth in gold-equivalent production from its existing asset base by 2030.

A news release Tuesday detailed company CEO Mark Bristow unveiling Barrick’s outlook at this week’s Gold Forum Americas taking place between Sunday and Wednesday in Colorado Springs, Colorado.

“Five years ago, we set out to build a sustainably profitable gold and copper business focused on world-class assets. We did not have to buy them at a premium: they were embedded in the merged portfolio of Barrick and Randgold, and we just had to unlock their value,” Bristow said.

Bristow added that Barrick has six Tier 1 gold mines, with additional ones coming down the pipeline. Bristow specifically highlighted three world-class gold opportunities, all in Nevada, which he described as the world’s premier mining jurisdiction.

These include the recently commissioned Goldrush, which has a production target of 400,000 ounces by 2028. Next to Goldrush is Fourmile, which has returned grades double those of Goldrush. Bristow then highlighted the 14-million-ounce Leeville project, which could double or triple the company’s reserves at Carlin, extending its life beyond 2045.

Additionally, since 2019, Bristow explained that Barrick has reduced its net debt by US$3.5 billion, invested $11.2 billion in 10-year life-of-mine plans for its key mines and returned more than $5 billion to shareholders.

Barrick Gold is a Canada-based gold and copper producer and has ownership interests in producing gold mines in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of the Congo, the Dominican Republic, Mali, Tanzania and the United States.

Shares of Barrick Gold (TSX:ABX) were down 0.11 per cent, closing at C$27.85 Tuesday.

Join the discussion: Find out what everybody’s saying about this stock on the Barrick Gold Bullboard investor discussion forum, and check out the rest of Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

(Top image: Adobe Stock)


More From The Market Online
CONCACAF W Champions Cup logo.

Scotiabank backs women’s soccer with W Champions Cup partnership

Scotiabank (TSX:BNS) throws its support behind women's soccer by becoming an official and founding partner of the CONCACAF W Champions Cup.
Dynacor gold bar

Dynacor to build a gold processing pilot plant in Senegal

Dynacor Group (TSX:DNG) will begin construction of a gold ore processing pilot plant in Senegal next year.
The Market Ltd.'s The Market Online and Gumtree brands.

Media brand with international footprint grows Australian platforms

Of all the small-cap stocks in Australia's Telecommunications index, The Market Ltd. (ASX:MKT) could be one of the most overlooked.