Barrick delivers strong year-end performance while advancing growth projects

Barrick delivered a strong performance in Q4, increasing gold production by 15% and copper production by 33% over Q3 to meet its annual guidance for the year. Additionally, gold cost of sales and total cash costs for the quarter were reduced by 3% and 5%, respectively.

The results for the year, released today, report a 69% increase in net earnings to $2.14 billion, a 51% increase in adjusted net earnings to $2.21 billion and a 30% rise in attributable EBITDA to $5.19 billion for 2024 — the highest in over a decade.

Year-on-year operating cash flow increased 20% to $4.49 billion and free cash flow more than doubled to $1.32 billion, driven by the stronger earnings. A quarterly dividend of $0.10 per share was maintained, bringing the total annual dividend paid to shareholders to $696 million, and a further $498 million was returned in buying back shares.