Research Update: Barrick Gold Corp. Ratings Lowered To 'BBB+' From 'A-' On Higher Forecasted Capital Spending; Outlook Negative Jul 12
- Language: English
- Published: July 2012
The ratings recognize Barrick Gold Corp.'s position as one of North America's largest and lowest-cost gold producers, with annual production of around 3.7 million ounces at total cash operating costs of about US$150 per ounce and total costs of about US$200 per ounce. Barrick also has one of the largest gold reserve bases with proven and probable ore reserves of 58.5 million ounces. The company's operational and geographical diversity has improved with the addition of the Pierina mine in Peru, which has annual production of more than 800,000 ounces or about 20% of total production. In addition, Barrick has good growth prospects with two mines under development: Bulyanhulu in Tanzania and Rodeo in the U.S. Bulyanhulu recently began production in...
Companies mentioned in this report are: Barrick Gold Corp.
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Barrick Gold Corp.