John Thornton, chairman of Barrick Gold (NYSE:GOLD|TSX:ABX) said on Friday last week that part of the company’s strategic goals for 2025 include advancing its portfolio of growth projects, with the aim of achieving 30% growth in gold-equivalent production by 2030.
The change from Barrick Gold Corporation to Barrick Mining Corporation comes as part of the company’s strategy to enhance its corporate identity and align more closely with its evolving business model. The company is looking to organically grow production volumes in copper, having recently completed feasibility studies for Reko Diq, one of the world’s largest undeveloped copper-gold deposits, as well as the Lumwana Expansion project, which they believe will become one of the largest copper mines globally.
Mark Bristow, CEO of Barrick, has also expressed interest in expanding Barrick’s copper production as well, keeping in-line with the industry’s greater focus on energy transition metals.
