On January 1, 2019, a new Barrick was born out of the merger between Barrick Gold Corporation and Randgold Resources.
The merger created a sector-leading gold company which owned five of the industry’s Top 10 Tier One
A Tier One Gold Asset is a mine with a stated life in excess of 10 years, annual production of at least 500,000oz of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve.
gold assets — Cortez and Goldstrike in Nevada USA (both 100%), Loulo-Gounkoto in Mali (80%), Kibali in the Democratic Republic of Congo (45%) and Pueblo Viejo in the Dominican Republic (60%) — as well as two with Tier One potential — Turquoise Ridge and the Goldrush/Fourmile project, both in Nevada USA.
On July 1, 2019, Barrick combined its Nevada assets with those of Newmont to create Nevada Gold Mines (61.5% owned and operated by Barrick) resulting in Turquoise Ridge becoming the sixth Tier One mine in the Barrick portfolio. And in September it bought out the minority shareholders in Acacia and took over the management of its Tanzanian assets.