Barrick Mining Corporation

Description

Barrick Mining Corporation (formerly Barrick Gold Corporation) is one of the world's largest gold and copper producers, with a global portfolio anchored by the Nevada Gold Mines complex in the USA, which is being expanded toward nearly 100 million ounces of combined resource through a vend-in agreement with Newmont covering the Fourmile, Mike, and Fiberline properties. Other core assets include Pueblo Viejo in the Dominican Republic, Lumwana in Zambia, and the Reko Diq copper-gold project in Pakistan.

For 2026, Barrick guided to 2.90-3.25 million ounces of gold production at an AISC of US$1,760-1,950/oz, and 190,000-220,000 tonnes of copper at US$3.45-3.75/lb, with total attributable capital expenditure of US$3.8-4.2 billion. The company reports approximately 89 million ounces of gold reserves. Barrick also has a second material growth driver in the Lumwana Super Pit copper expansion, targeting first production by the end of Q1 2028, and is pursuing a planned North American IPO spin-out expected to complete by year end.

Weakness

List of projects

1. Nevada Gold Mines Complex — 61.5% interest, Nevada, USA; metals: Gold.
2. Pueblo Viejo — 60% interest, Dominican Republic; metals: Gold, Silver.
3. Lumwana — 100% interest, Zambia; metals: Copper.
4. Reko Diq — 50% interest, Pakistan; metals: Copper, Gold.
5. Fourmile — vend-in interest via Nevada Gold Mines, Nevada, USA; metals: Gold.
6. Other global operations — Africa, Latin America, Papua New Guinea; metals: Gold, Copper.

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