Q4 2024 Barrick Gold Corp Earnings Call Transcript
Key Points
- Barrick Gold Corp (GOLD) achieved a 30% increase in EBITDA and a 50% growth in adjusted net earnings per share year-on-year.
- The company maintained its quarterly dividend at $0.10 per share and repurchased $500 million worth of shares in 2024.
- Gold production increased by 15% quarter-on-quarter, with a 3% reduction in cost of sales and a 5% decrease in total cash costs.
- The company achieved the highest net earnings in a decade, with operating cash flow for the quarter up 18% to $1.4 billion.
- Barrick Gold Corp (GOLD) continued its strong track record in reserve replacement, adding significant new reserves for both gold and copper.
- The company reported three fatalities in 2024, highlighting ongoing safety challenges.
- Gold sales were significantly impacted by export restrictions imposed by the Malian government.
- The company faced challenges with the unjust incarceration of team members in Mali, leading to operational disruptions.
- Pueblo Viejo's costs increased by 14% despite a 5% drop in production, primarily due to lower grades.
- The Loulo-Gounkoto mine in Mali is temporarily closed, impacting production and leading to a write-down of goodwill.
Ladies and gentlemen, thank you for standing by. This is the event operator. Welcome to Barrick's Results presentation for the fourth quarter of 2024.
(Operator Instructions)
As a reminder, this event is being recorded and a replay will be available on Barrick's website, (technical difficulty) February 12, 2025.
I would now like to turn you over to Mark Bristow, President and CEO of Barrick. Please go ahead, sir.
Thank you very much and very good afternoon to everyone here today and for those that are on the call, thank you for joining us today.
As you know, at Barrick, we are focused on delivering sustainable long-term value by owning the best gold and copper assets managed by the best people. Every quarter, we're getting closer to achieving our goal.
With gold becoming more important as a safe haven in a geopolitically uncertain world, and copper being as strategic as gold is precious, I plan to show you how we are adding value
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