Canadian miner Barrick Gold reported that its overall validated and possible gold reserves grew by 23%, reaching 17.4 million ounces (MOZ) by the end of 2024.
This rise is mainly attributed to the Reko DIQ copper mine project in Xiagai District, Bal Road, Pakistan.
The company's attributable and possible gold reserves in 2024 are 89 grams, 0.99 grams per ton (g/t) and 1.65g/t from 77moz in 2023.
After the feasibility study is completed, the conversion of copper and gold resources of Reko Diq into mineral reserves is promoted, which is promoted by the conversion of copper and gold resources of Reko Diq into mineral reserves, which is converted from copper and gold resources of Reko Diq into mineral reserves That, this is 13mmoz gold, after the feasibility study was completed, it caused 13mmoz gold.
Before that, Barrick replaced annual exhaustion with senior year for the fourth consecutive year.
According to reports Reuters.
In Africa and the Middle East, the company's reserves grew slightly by about 1.1% in 2024 to 19moz, with the Loulo-Gounkoto mine in Mali and the Bulyanhulu mine in Tanzania.
Since the end of 2019, Barrick has replaced more than 180% of its exhausted gold reserves, adding nearly 46 wealthy attributions and possible reserves to its custodial assets.
The company's 2024 gold resources remained consistent at 180moz at 1.06g/t, and the inferred resources grew by 5% from 2023 at a rate of 0.9g/t.
In addition, copper reserves rose 224% year-on-year, with over 13% in senior year, resulting in 18 million tons of copper (MT) of 0.45%.
The increase in copper reserves was due to the completion of feasibility studies of Lumwana and Reko Diq, both of which were confirmed as Level 1 copper projects.
The Lumwana Super Put expansion feasibility study only increased the copper reserves of 5.5mt, while the REKO DIQ study provided an additional 7.3mt of copper for the company's reserves.
The Pueblo Viejo mine in the Dominican Republic has replaced 115% of regional gold reserves in 2024 before the inclusion of Reko Diq. The Porgera mine grew 22% year-on-year.
Mark Bristow, President and CEO of Barrick, said: “In order for our industry to help build a better world, we must invest in our own future, such as the Lumwana Super Pit extension, Pueblo Viejo Expansion, transformational projects such as Reko Diq and Fourmile. Barrick’s vision for these projects goes beyond mining, ensuring that the benefits of these investments are made through the establishment of partnerships with local service providers and investments in the sustainability of our operating environment Providing multi-generational benefits to our host country and local communities.”
Barrick faced setbacks last month, when his operations at the Mali mine were suspended after a military-led government seized three tons of gold.
"Barrick reported a 23% increase in gold reserves in 2024," originally created and published by global data-owned brand Mining Technology.
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