“The world’s largest gold mining complex, Nevada Gold Mines, stands out from the rest of the industry not only for its size, but also because its wealth and prospects secure its future as a high-quality, high-quality operation. long-lasting for decades to come,” the report states.

“Nevada Gold Mines land holdings encompass more than two million acres in some of the best endowed gold trends in North America.”

The report says NGM “is anchored by three Tier 1 mines – Carlin, Cortez and Turquoise Ridge – with Goldrush and Fourmile leading a long pipeline of quality projects.”

Barrick has a total of six Tier 1 mines worldwide. The others are Pueblo Viejo in the Dominican Republic, the Loulo-Gounkoto complex in Mali and Kibali in the Democratic Republic of Congo.

A graph in Barrick’s annual 5-year North American gold outlook report shows gold production attributable to Barrick from NGM – the company’s 61.5% share of total production – rising from approximately 2 million ounces in 2021 to approximately 2.2 million ounces in 2026, due to expected production increases at Cortez and Turquoise Ridge.

“Rapid progress in improving knowledge of ore bodies has opened up opportunities for resource growth and exploration, including at North Leeville, Ren, Robertson, Turquoise Ridge and Carlin,” the annual report said.

“At the same time, NGM has strengthened its social license to operate by building strong relationships with its local communities, counties, state and federal agencies. To ensure that community needs are met, advisory groups made up of local stakeholders have been formed to propose development projects for investment. Some of these initiatives include the Elko Broadband Project, bringing high-speed internet services to the region; the i-80 Fund, which has evolved from a Covid-19 relief program to a rural development initiative; and the employee-run NGM Heritage Fund.

“NGM has a strong track record in environmental remediation and restoration, and is a committed steward of Nevada’s unique lands, waters, flora and fauna.”

“In Nevada, Goldrush’s updated feasibility study has delivered a robust project that meets our investment criteria and the immediate geological prospectivity has the potential to improve it with further evaluation,” the president said. and Barrick’s CEO, Mark Bristow, in his message in the annual report. “The commissioning of Turquoise Ridge’s third shaft and continued geological and mining improvements will secure this mine’s future as a Tier 1 asset.

“The state is one of the most prolific gold districts in the world and last year brownfield exploration added 9.4 million ounces of reserves. Mineral resources, including reserves, have also showed good growth with 7.4 million ounces of measured and indicated resources and an additional 5.2 million ounces of inferred resources in the Nevada Gold Mines inventory, before depletion.There is also real potential for the discovery new world-class deposits.

The report also highlights Barrick’s exploration projects around the world.

“A dedicated Asia-Pacific team, set up to pursue opportunities in this region, has acquired exploration licenses in Japan and is looking for additional opportunities in this region,” Bristow said. “We are also looking at projects across the Nubian and Arabian shields in North Africa and the Middle East. We placed particular emphasis on exploration in Latin America, where our teams are testing a portfolio of targets on the El Indio belt, on the border between Argentina and Chile. We also gained ground in Peru and started fieldwork on new projects in Guyana and Suriname.

“We are working on a well-defined strategy to grow our business in Canada where I believe we are underinvested. A significant exploration portfolio has been secured in the country’s Uchi belt and the team is also exploring other opportunities in the country.

Bristow said Barrick has charted and is progressing on a clear path towards achievable targets for reducing greenhouse gas emissions and that its long-standing commitment to environmental, social and governance principles informs all of its business decisions.

“The social component of ESG tends to be overshadowed by its environmental counterpart, but for Barrick it is the socio-economic state of our less developed host countries that is of critical importance, and a large part of our sustainability strategy aims to ensure that our host communities are not adversely affected by the global transition to a green economy.

“Our drive to employ the next generation of mining talent has remained steady, with 56% of our workforce under the age of 40 and 19% under the age of 30. Throughout the period, we also continued to increase our gender diversity, and last year, 17% of new hires globally were women. Barrick believes in empowering our people to thrive in a decentralized structure with lean regional teams designed for agility and focused on creating value for all of our stakeholders,” Bristow said.

The Gold Market Snapshot in Barrick’s Annual Report states: “The average gold price in 2021 was $1,799/oz, up 2% from $1,770/oz. average in 2020. $1,799/oz. represented the highest annual average price on record, surpassing the previous high reached in 2020, and represented the sixth consecutive year of annual average price increases.

The report indicates that for every $100 per ounce increase in the price of gold, Barrick’s attributable free cash flow from operations increases by approximately $1.5 billion.