Barrick Gold Corporation (GOLD) Presents at 34th Annual Gold Forum Americas 2022 Conference (Transcript)

Summary of Barrick Gold Corporation's 34th Annual Gold Forum Americas 2022 Conference Company Overview - Company: Barrick Gold Corporation (NYSE:GOLD) - Industry: Gold Mining Key Points and Arguments 1. Current Economic Environment: The global economies and geopolitical environment are at a significant inflection point, reminiscent of the uncertainty during the Second World War, necessitating clear strategies and agile management [2] 2. Merger Success: The merger with Randgold Resources has proven to be one of the most rewarding combinations in the sector, emphasizing the importance of a clear strategy and objectives [2] 3. Asset Quality: Barrick operates in 18 countries across four continents, managing six tier 1 gold mines that produce at least 500,000 ounces annually, with a bankable 10-year business plan and costs in the lower half of the average range [3] 4. Copper Business Expansion: The Reko Diq project in Pakistan is expected to significantly boost Barrick's copper business, alongside ongoing investments in exploration and development [4] 5. Financial Health: Over the past three years, Barrick has transitioned from a net debt position to net cash, allowing for independent funding of future opportunities [4] 6. Shareholder Returns: The company has increased returns to shareholders, with a peer-leading yield of around 5% when annualized for the first two quarters of the year [5] 7. Project Portfolio Management: Barrick employs a resource triangle model to manage its project portfolio, ensuring a balanced approach to regional and valuation levels [5] 8. Sustainability Commitment: Barrick aims to reduce carbon emissions by 30% by 2030, with a long-term goal of net zero by 2050, while maintaining production levels [7] 9. Exploration Capabilities: The company has a leading exploration group and aims to nearly double its copper production, with a focus on sustainability embedded in its policies [6] 10. Future Outlook: Barrick is confident in its asset quality and sustainable profitability strategy, which is supported by a reality-based implementation plan [8] 11. World Gold Council Initiative: Barrick supports the World Gold Council's 24/7 initiative to modernize gold trading, including digitalization and tokenization efforts [9] Additional Important Content 1. Growth Strategy in Canada: While Barrick aims to grow in Canada, it will not pursue opportunities that do not meet its investment criteria, despite ongoing exploration efforts [12] 2. Global Operations: Barrick has a presence in most major gold and copper geological provinces, with a focus on finding high-quality assets [19] 3. Nevada Gold Mines: The joint venture with Newmont in Nevada has been successful, with 30 million ounces of high-grade resources and significant dividends distributed to partners [22][23]