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Mining News March 27, 2020 12:30:24 PM

Barrick Gold Unveils 10-Year Production Plan

Paul Ploumis
ScrapMonster Author
According to the plan, Barrick aims to sustainably produce approximately five million ounces of gold, with a good majority of it from North American mines.

Barrick Gold Unveils 10-Year Production Plan

SEATTLE (Scrap Monster): Barrick Gold Corporation announced a 10-year production plan, which aims to transform itself into the world’s most valued gold miner. The plan was outlined in the first annual report published by the company after its merger with Randgold Resources.

According to the plan, Barrick aims to sustainably produce approximately five million ounces of gold, with a good majority of it from North American mines. In addition, the plan targets to deliver significant cash flows over the period of time. It must be noted that the company has reported strong performance across the group, especially from Cortez mine in Nevada and Veladero in Argentina.

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Mark Bristow, President and Chief Executive, Barrick noted that the work done over the past year has equipped the company to move to the next level. The enormous organic growth potential of the company will support positive production profile and robust business for at least the next decade, he said.

The annual report also stated that Barrick has been pro-active in dealing with the COVID-19 pandemic. It has already rolled out emergency response measures at all sites and operations. The company is in a strong position to contend with the challenge, it said.

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