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The Facts
Of the 2013 exploration budget of $280-$300 million, more than 40% is allocated to North American operations, primarily in Nevada.
Barrick Gold has an entire division devoted to the African continent called African Barrick Gold, which is the 5th largest gold producer in Tanzania.
Recent Events
Barrick Gold reports $2.83B loss, slashes reserves
- Their Gold Reserves have fallen from 140 million to 104 million ounces in the past year
- A lot of their top board directors are retiring soon including the founder of Barrick Gold Peter Munk
- They have been selling their takes in mines in order to gain cash flow and pay off expesnes
http://www.cbc.ca/news/business/barrick-gold-reports-2-83b-loss-slashes-reserves-1.2535457: Feb 13, 2014
Recent Events
Tanzania: Barrick Gold Spends Half of Its Revenue On Taxes
- 30% corporate tax, 15% withholding tax, 4% royalty and 0.3% service levy to district councils where it operates
- They are trying to negotioate a tax break since Barrick Gold has made a $2 billion dollar investment in Tanzania so far, which is defiantly boosting their economy
- They would be making a lot more profit if it weren't for the taxes
Barrick Gold Corp is heavily involved in global trade as it exports gold,copper, and silver from 11 different countries to around the world:
"In the first nine months of 2013, Cowal [Argentina] produced 232,000 ounces of gold at all-in sustaining costs of $720 per ounce" ... Proven reserves of upto 2,000,000 ounces.
"In the first nine months of 2013, the Goldstrike [America] Property produced 650,000 ounces of gold"
"Barrick operates mines and advanced exploration and development projects on four continents"
Employees : 20,000
Number Of Facilities (Mines) : Barrick Gold operates 22 mines
0
16
1
4
Gold Produced - 7,166,000 ounces (Approx. $800 per ounce)
Copper Produced - 539 million pounds
Earnings (In Millions)
Revenue - $12,511
Net loss - $10,366
Total Assets - $47,282
Net loss per share - $10.14 (Not in millions)