Trefis Team
Barrick Gold Corporation operates mines in North America, South America, Australia and Africa. The company has mainly gold and copper in its portfolio and competes with other mining companies such as Newmont Mining, Goldcorp Inc. and Freeport McMoran Copper.
In this article, we take a closer look at Cortez and Goldstrike mines that are located in Nevada and are Barrick Gold’s two largest mines in terms of gold production. In 2012, they together constituted 34% of the company’s total gold production. In the North American region, which accounts for almost 50% of Barrick’s total production, gold from these two mines amounts to more than 70% of Barrick’s production.
Let’s take a look at the cost of production, the significance of the mines for Barrick’s overall portfolio and future, the quantity of reserves and the likely production trajectory going forward.