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Website URL
http://barrick.com
Office Address
City / Town
International
Country
International
About
About
Barrick is the worlds pre-eminent gold producer, with a portfolio of 27 operating mines, many advanced exploration and development projects located across five continents, and large land positions on the most prolific and prospective mineral trends. The Company also has the largest reserves in the industry, with 124.6 million ounces of proven and probable gold reserves, 6.2 billion pounds of copper reserves and 1.03 billion ounces of contained silver within gold reserves as at December 31, 2007.
In 2007, Barrick produced 8.06 million ounces of gold at a cash cost of $350 per ounce. In addition, the Company produced 402 million pounds of copper at a total cash cost of $0.83 per pound. For 2008, Barrick is targeting gold production of 7.6-8.1 million ounces and copper production of approximately 380-400 million pounds. Total cash costs are expected to be $390-$415 per ounce of gold and $1.15-$1.25 per pound of copper.
The Company has a successful track record of mine development, having completed the construction of the Tulawaka, Lagunas Norte and Veladero mines in 2005, the Cowal mine in early 2006, and the re-opening of the Ruby Hill mine in early 2007. Barrick has many more projects at various stages of exploration and development. This robust and unrivalled pipeline of projects is due to the Companys ongoing commitment to exploration, even in times of lower gold prices. Barrick is actively exploring for gold in more than 15 countries around the world.
Barrick has the gold mining industrys strongest and only A rated balance sheet, which positions the Company to take prompt advantage of attractive development, exploration and acquisition opportunities as they arise without needing to pause for financing.
Barrick shares are traded on the Toronto and New York stock exchanges.
Vision
To be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.
Barrick Core Values
As we conduct our business around the world, we have always been guided by our commitment to responsible behavior. In practice, this translates into bringing long-term benefits to the communities where we operate, and fostering a culture of excellence and collaboration among our employees. By upholding the Barrick Core Values in everything we do, we open up opportunities to earn the trust of our stakeholders and to create shared value.
Behave Like an Owner
We accept accountability for our actions and results. We treat the Companys assets as our own. We are entrepreneurial and look for opportunities to grow our business. We act with integrity, operating within the letter and spirit of the law and Barricks Code of Business Conduct and Ethics.
Act with a Sense of Urgency
We are decisive, take initiative and make tough decisions when necessary. We set priorities and act on them.
Be a Team Player
We work safely at all times. We respect our colleagues and those we interact with outside our organization. We listen to others for understanding and we ask for help. We build trust and celebrate our successes. We help others improve their effectiveness. We promote confidence and trust in each others capabilities.
Continually Improve
We are always committed to improvement. We build on good ideas, learn from our mistakes and challenge the status quo. We think outside of the box and have a desire to succeed and add value to our work.
Deliver Results
We have a clear vision of where were going and the plan to get there. We focus our resources to achieve our objectives. We pay attention to detail and keep our commitments. We deliver results.
