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Barrick Gold builds future leadership with youth and diversity

Barrick Gold Corporation is building its future leadership by injecting youth and diversity into its highly experienced team, thus aligning it with technological advances as well as the evolving expectations of a rapidly changing world, says executive chairman John Thornton in the company’s 2020 Annual Report published today.

“A wide range of skills, experience, perspectives and backgrounds will, we believe, foster continuing innovation, equip us to deal effectively with opportunities, challenges and risks, and draw us even closer to our stakeholders worldwide,” he says.

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“Barrick has a high-performance culture and, in order to attract outstanding people who share our vision and values, our compensation model is ownership-based. A broad spectrum of our employees are shareholders, with a stake in the future success of the company and a common interest with our other investors.”

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Thornton says Barrick has emerged even stronger from a difficult year and has made significant progress since the transformational merger with Randgold towards its goal of building the world’s most valued gold company. There is still more to do, however, and the company’s 5 and 10 year plans will keep management focused on the attainment of the next set of goals.

On 1 January 2019 a new Barrick was born out of the merger between Barrick Gold Corporation and Randgold Resources. Shares in the new company trade on the NYSE (GOLD) and the TSX (ABX). The merger has created a sector-leading gold company which owns five of the industry’s Top 10 Tier One gold assets (Cortez and Goldstrike in Nevada, USA (100%); Kibali in DRC (45%); Loulo-Gounkoto in Mali (80%); and Pueblo Viejo in Dominican Republic (60%)) and two with the potential to become Tier One gold assets (Goldrush/Fourmile (100%) and Turquoise Ridge (75%), both in the USA). With mining operations and projects in 15 countries, including Argentina, Australia, Canada, Chile, Côte d’Ivoire, DRC, Dominican Republic, Mali, Papua New Guinea, Peru, Saudi Arabia, Senegal, USA, and Zambia, Barrick has the lowest total cash cost position among its senior gold peers and a diversified asset portfolio positioned for growth in many of the world’s most prolific gold districts.