Barrick’s Overall Gold Reserves Recorded Notable Surge

SEATTLE (Scrap Monster):  By the end of 2024, Barrick Gold Corporation, a leading Canadian miner, reported that its total proved and probable gold reserves had increased by 23% to 17.4 million ounces. At the end of the previous year, the company had 89 million ounces of attributable proved and probable mineral reserves.

The previous year's increase in gold reserves was largely due to Pakistan's Reko Diq copper-gold project. On an attributable basis, the completion of the feasibility study at Reko Diq has helped to increase its likely reserves by almost 13 million ounces of gold. Production at the mine is anticipated to begin by the end of 2028.

The Africa and Middle East region's gold mineral reserves increased to 19 million ounces from 18.8 million ounces in 2023, according to a corporate news release. The Loulo-Gounkoto and Bulyanhulu mines were the primary drivers of this. The company produced a 2.3 million ounce increase in attributable proved and probable reserves throughout the region. Meanwhile, Pueblo Viejo led the addition of 0.78 million ounces of reserves from the Asia-Pacific and Latin American regions.

On an attributable basis, the continuous expansion initiatives in North America—such as Turquoise Ridge, Leeville Underground in Carlin, and the Reona cutback in Phoenix—added 1.54 million ounces of gold to reserves.

YOU MAY ALSO BE INTERESTED IN:

Barrick Gold CEO Announced Progress in Dispute with Mali

Barrick's Kibali Gold Mine Ended 2024 with a Strong Performance