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This statistic highlights Barrick Gold’s Revenue by Segment, split between Copper (pounds) and Gold (Ounces), reported on a quarterly basis from 2011 Q1 onwards.
|Metal||2022 Q3||2022 Q4||2023 Q1|
Note: All the above figures are in USD millions.
As per the above data, we can see that the 2023 Q1 revenue from Copper is $89 million. It is also lowest in previous two quarters. Additionally, in 2022 Q4 revenue by segment from copper is $99 million. It was far higher than the 2023 Q3. Revenue from Copper contributes 98.94% or 99% approx. It has a 1% contribution from Gold. While Revenue from Gold was $1 million in 2022 Q3. But in 2022 Q4, it rises to $1.11 million rather than reduce like Copper. By and large, in 2023, Q1 revenue from gold reduced to $0.95 million.
The company has copper operations in Jabal Sayid (Saudi Arabia), Lumwana (Zambia) as well as Zaldivar (Chile). The Jabal Sayid copper operation is located 350 kilometers northeast of Jeddah in the Kingdom of Saudi Arabia. It has a 50/50 joint venture operation with Ma’aden. The Lumwana is located about 100 kilometers west of Solwezi in Zambia’s Copperbelt as well as one of the most prospective copper regions in the world. Lumwana ore, which is predominantly sulfide, is treated through a conventional sulfide flotation plant, producing copper concentrate. Additionally, the Zaldívar copper mine is a 50/50 joint venture with Antofagasta Plc, the mine operator. By and large, it is located in the Andean Precordillera in Region II of northern Chile, approximately 1,400 kilometers north of Santiago and 196 kilometers southeast of the port city of Antofagasta.
Gold Mines are in Nevada Gold Mines (US), Bulyanhulu (Tanzania), Hemlo (Canada), Kibali (Democratic Republic of Congo), Loulo-Gounkoto (Mali), Veladero (Argentina), Pueblo Viejo (Dominican Republic) and also in Tongon (Cote Divore). Nevada Gold Mines is a joint venture between Barrick (61.5%) and Newmont (38.5%) that combined the significant assets across Nevada in 2019 to create the single largest gold-producing complex in the world. Bulyanhulu is a narrow-vein gold mine containing gold, silver, and copper mineralization in sulfides. Additionally, Bulyanhulu commenced commercial production in 2001. Hemlo has produced more than 21 million ounces of gold and has been operating continuously for more than 30 years. Additionally, it is located just north of Lake Superior on the Trans-Canada Highway, about 35 kilometers east of Marathon, Ontario, it is currently an underground operation.
About Barrick Gold
Barrick Gold Corporation is a leading international gold mining company headquartered in Toronto, Canada. It is also one of the largest gold mining companies globally, operating in various countries. Barrick Gold operates a portfolio of mines across several continents, including North America, South America, Africa, and Australia. The company focuses on gold mining but produces other metals like copper. Barrick Gold also has a significant gold production output. Barrick Gold emphasizes sustainable mining practices as well as environmental stewardship. Additionally, the company strives to minimize its environmental impact, engage with local communities, and prioritize safety and social responsibility. It has engaged in various partnerships and acquisitions to strengthen its position in the industry.
Barrick Gold’s financial performance is subject to fluctuations in the gold market and other factors affecting the mining industry. Barrick Gold is also committed to social and economic development in the communities where it operates. The company invests in local infrastructure, education, healthcare, and sustainable development initiatives.
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