Here's the latest scoop on Barrick's projects
Canada’s Barrick Gold (TSX, NYSE:ABX), the world’s largest miner of the precious metal, has chosen to remain focused on cash flow generation rather than growth.
The miner is focusing on projects with the potential to add as much as 1.1 million ounces of gold to its total output beyond 2021.
While the Toronto-based company revealed Wednesday it plans to boost annual output this year, it said such increase would be minimal — 5.6 million to 5.9 million ounces of gold, compared to the 5.52 million ounces it mined in 2016.
It also said it’d maintain levels of at least 4.5 million through 2021, though that threshold is subject to potential divestments.
For now, Barrick is focused on those projects that have the potential to add as much as 1.1 million ounces of gold to its total output beyond 2021, even if production at some of its operations begins to dwindle.