Continued Reserve Replacement and Disciplined Strategy Support Barrick’s 10-Year Growth Plan
TORONTO, March 31, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) last year again more than replaced the gold reserves it mined and its proven ability to sustain this
achievement through exploration will support the execution of its 10-year rolling business plan, says executive chairman John Thornton in the company’s 2023 Information Circular published today and
available now at www.barrick.com/agm and also filed on SEDAR (www.sedar.com) and EDGAR (www.sec.gov).
“Attuned to the cyclicality of markets, Barrick’s strategy of building its future by continuing to invest in sustainably profitable growth, organic as well as external, has equipped us well to deal with challenging circumstances. In the current climate of uncertainty, we are proving again that our people are truly world class and are more than capable of making Barrick the world’s most valued gold and copper company,” he added.
“Our focus in 2023 will be on expanding Barrick’s value foundation, already one of the industry’s best, within and beyond our current borders. The Reko Diq project in Pakistan will almost double our current copper production and will add to our gold production when it is fully operational. We are also extending our presence in North and South America and we are particularly excited by new opportunities in North Africa and the Middle East.”
Thornton says that at a time when environmental management and human rights are coming under increasingly critical scrutiny, Barrick’s sustainability strategy has long been embedded in its business plans.
“The creation of long-term value for all stakeholders contributes meaningfully to the social and economic development of our host countries and communities, protects the safety and health of our people, respects human rights and manages the impact of our operations on the environment. Sustainability performance accounts for 25% of the long-term incentive awards for our senior leaders, demonstrating the importance Barrick attaches to our sustainability commitments,” he says. Our 2022 Sustainability Report, which objectively rates our performance against a wide range of metrics, will be published in April 2023.