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Barrick Gold Corp. Apr 06
Standard & Poors, April 2006
Abstract
Long-lived, low-cost reserve base Strong pipeline of development projects Broadly diversified operating and political risk Modest financial risk profile Exposure to volatile precious metals and copper prices Large capital expenditures to execute mine development plans The ratings on Barrick Gold Corp. reflect the company's position as the world's largest gold producer, with cash costs that are among the lowest in the industry, and a modest financial risk profile. These strengths are offset somewhat by Barrick's narrow revenue diversity and the attendant exposure to volatile gold, silver, and copper prices, as well as its large capital expenditure plans. Although Barrick remains the lowest-cost producer among senior gold companies since its acquisition of Placer Dome Inc. in early 2006, Standard & Poor's...
Companies mentioned in this report are: Barrick Gold Corp.,Newmont Mining Corp.,Placer Dome Inc.,Barrick Gold Finance Corp.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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