Summary: Barrick Gold Corp. Sep 05
Standard & Poors, September 2005
Abstract
The ratings on Barrick Gold Corp. reflect the company's strong position as the third-largest gold producer in the world, cash costs that are among the lowest in the industry, low geopolitical risk relative to its peers, and conservative financial profile. These strengths are offset by the company's very narrow revenue diversity and increasing exposure to volatile gold prices, as well as by the company's large growth capital expenditure plans. Barrick's satisfactory business profile is supported by its large base of low-cost mines, which is expected to produce about 5.4 million ounces in 2005 at a total cash cost of US$225 per ounce. At year-end 2004, the company had proven and probable reserves of 89 million ounces, which could sustain current...
Companies mentioned in this report are: Barrick Gold Corp.
Action: Review
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Barrick Gold Corp.
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