The company, which beat expectations even though its profit fell 13 per cent to
"We're excited about the opportunities to grow our footprint in that area," Barrick chief executive
He added the company also has geologists working in
"There's a lot to come organically. Of course, as you know, one big discovery changes everything. And that's where you really create value in a mining company," Bristow said.
Barrick already has gold and copper mining operations and projects in 13 countries in
In a news release Wednesday, the company said its 2021 production was in line with guidance for the third successive year despite the challenges of COVID-19. The company said it also more than replaced its gold reserves, net of depletion, at a better grade.
Announcing the annual results, the company said its reserve replenishment was attributable to continued brownfield exploration success and a drive for fresh discoveries in prospective territories.
In the future, Barrick will also pay an additional performance-based dividend linked to the net cash on its balance sheet.
The company reported its revenue for 2021 was nearly
On an adjusted basis, Barrick said it earned
For the fourth quarter it earned
Revenues increased to
Barrick was expected to report
Barrick also reported Wednesday that a workplace fatality occurred at its North Mara mine in
This report by
Companies in this story: (TSX:ABX)
© 2022 The Canadian Press. All rights reserved., source