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Barrick Gold (NYSE:GOLD) has released its annual report highlighting significant progress in growth projects and sustainable value creation. The company completed feasibility studies for two Tier One projects: the Lumwana Super Pit Expansion in Zambia (adding 8.3 million tonnes of copper reserves) and the Reko Diq project in Pakistan (contributing 13 million ounces of gold and 7.3 million tonnes of copper reserves).

The company successfully replaced all mined gold and copper in 2024, replenishing 4.6 million ounces of attributable gold mineral reserves at improved grades. Barrick projects a 30% growth in gold equivalent ounces by decade's end. The Pueblo Viejo expansion in Dominican Republic advances toward becoming an 800,000+ ounce per year producer, while Nevada operations see progress at Goldrush and Fourmile projects.

Barrick maintains a strong balance sheet to fund Lumwana and Reko Diq development without new shares or unnecessary debt, while continuing its share buyback program.

Barrick Gold (NYSE:GOLD)(TSX:ABX) has announced the filing of technical reports for two significant projects: the Reko Diq Project and the Lumwana Expansion Project. The reports have been filed in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects and are now accessible to the public through multiple platforms including SEDAR+, EDGAR, and the company's website.

Barrick Gold (NYSE:GOLD) delivered strong Q4 2024 results with a 15% increase in gold production and 33% increase in copper production over Q3. The company reported a 69% increase in net earnings to $2.14 billion and a 51% increase in adjusted net earnings to $2.21 billion for 2024.

Key financial highlights include a 20% increase in operating cash flow to $4.49 billion and doubled free cash flow to $1.32 billion. The company maintained a quarterly dividend of $0.10 per share, with total shareholder returns of $1.2 billion in 2024, including $498 million in share buybacks.

Barrick significantly grew its reserves, with attributable proven and probable gold mineral reserves increasing by 17.4 million ounces (23%) to 89 million ounces. Copper mineral reserves grew by 224% year-on-year to 18 million tonnes. The company announced a new $1 billion share buyback program and projects 2025 gold production of 3.15-3.5 million ounces.

Barrick Gold (NYSE:GOLD) has announced a new share repurchase program of up to $1.0 billion of its outstanding common shares over the next 12 months at prevailing market prices. This new program replaces the previous February 2024 program, under which the company repurchased $498 million in common shares.

The repurchases can be made through various methods, including open market purchases on the New York Stock Exchange. The company states that its shares sometimes trade at prices that may not adequately reflect their underlying value. The timing and amount of purchases will be determined based on factors including financial performance, cash flow availability, and other capital allocation priorities such as investments, shareholder returns, and debt reduction.

The program is not obligatory and can be suspended or discontinued at the company's discretion.

Barrick Gold (NYSE:GOLD) has announced a Q4 2024 dividend of $0.10 per share, aligned with its Performance Dividend Policy. The dividend will be paid on March 17, 2025, to shareholders of record as of February 28, 2025.

The company has also reported significant share repurchases under its buyback program announced in February 2024, acquiring 28.675 million shares throughout the year, with 21 million shares purchased in Q4 2024 alone. According to CFO Graham Shuttleworth, the company's strong performance has enabled substantial shareholder returns while maintaining one of the industry's strongest balance sheets, ensuring adequate liquidity for growth projects.

Barrick Gold (NYSE:GOLD) has reported significant growth in its mineral reserves for 2024. The company's attributable proven and probable gold mineral reserves increased by 17.4 million ounces (23%) to 89 million ounces at 0.99g/t. This growth was primarily driven by the Reko Diq copper-gold project, which added 13 million ounces of gold.

The company's copper mineral reserves grew by 224% year-on-year, reaching 18 million tonnes at 0.45%. This substantial increase resulted from the completion of feasibility studies at Lumwana and Reko Diq, both confirmed as Tier One Copper projects. The Lumwana Super Pit Expansion added 5.5 million tonnes of copper reserves, while Reko Diq contributed 7.3 million tonnes.

Since 2019, Barrick has successfully replaced more than 180% of depleted gold reserves, adding almost 46 million ounces of attributable proven and probable reserves at approximately $10 per ounce.

Barrick Gold 's Kibali gold mine achieved its highest yearly throughput since commissioning in Q4 2024, despite facing challenges that required leadership changes. The mine is advancing several key initiatives, including:

Construction of a 16MW solar plant expected to complete by June 2025, which will reduce CO2 emissions from 45kt to 24kt annually and increase renewable energy mix from 81% to 85%. The mine maintained ISO 45001 and ISO 14001 certifications and reduced fresh water extraction from 15% to 11%.

Kibali has contributed $5.7 billion to the Congolese economy, including $3 billion spent with local suppliers. The mine completed 41 of 44 planned community development projects through its 0.3% revenue fund, investing $4.4 million in 2024. Exploration continues in highly prospective areas within the Kibali permit to support the mine's reserve pipeline.

Barrick Gold (NYSE:GOLD) has demonstrated significant economic impact in Zambia through its Lumwana Mine operations. The company contributed $3.7 billion since 2019, with $887 million in 2024 alone through various economic channels. The mine achieved its copper production guidance in 2024, with 72% of its $906 million procurement spend going to Zambian suppliers.

A major expansion project is underway at Lumwana, which will double copper production to 240kt annually and create 2,500 construction jobs through 2028, plus 550 permanent positions. The project includes developing Manyama town with new housing, an industrial supplier park, and an airport expected to be operational by 2025.

Currently maintaining 99% Zambian national employment, Barrick is expanding its training facilities and implementing a Business Accelerator Programme targeting 150 SMEs. The company is also addressing power challenges through co-generation initiatives and collaborating with ZESCO to upgrade the northwestern power corridor.

Barrick Gold (NYSE:GOLD) has contributed significantly to Tanzania's economy through its Twiga joint venture, injecting over $4.24 billion since 2019, including $888 million in 2024 alone. The partnership, comprising North Mara and Bulyanhulu gold mines, achieved notable milestones in local economic development and community support.

Key achievements include $573 million spent on national suppliers (83% of total in-country spend), with 75% going to indigenous companies. The company maintains a 96% national workforce of 6,185 employees, with 53% from neighboring communities. Community investments totaled $5 million in 2024, reaching $15.8 million since 2019.

Both mines exceeded production guidance of 500,000 ounces in 2024, maintaining Tier One status, and achieved a full year without Lost-Time Injury. The Barrick Academy, launched in 2024, has trained 1,700 individuals, targeting 2,800 by 2025. The company expanded its exploration footprint by over 2,000km² in the Nzega District.