Menu
Home  >  Operations  >  Growth Projects & Exploration

Growth Projects & Exploration

Growth Projects & Exploration

Barrick has a strong track record of exploration success; new targets and projects extend mine lives, while we seek new world-class discoveries.

Key Growth Projects

Our growth projects support and enhance current production levels and we continue to add to our reserve base organically through exploration.

Exploration

The foundation of Barrick’s exploration strategy is a deep organizational understanding that discovery through exploration is a long-term investment and the main value driver for the business – not a process. Barrick’s exploration strategy has multiple elements that all need to be in balance to deliver on its business plan for growth and long-term sustainability.

First, Barrick seeks to deliver projects of a short- to medium-term nature that will drive improvements in mine plans. Second, it seeks to make new discoveries that have the potential to add to Barrick's Tier One Gold Asset portfolio. Third, Barrick works to optimize the value of its major undeveloped projects and finally, it seeks to identify emerging opportunities early in their value chain and secure them by an earn-in or outright acquisition, where appropriate.

During 2023, exploration work expanded in all regions with the addition of new projects, while ongoing work continues to return encouraging results at all stages of the target pipeline.

2023 Regional Exploration Triangle

Barrick’s exploration is managed using the resource triangle — an integrated business tool. Generative work ensures a constant supply of targets to the base of the triangle and a set of stringent filters, at progressive levels within the triangle, ensures the promotion of quality targets and the rejection of inferior ones, with economic deposits ultimately reaching the pinnacle of the triangle.

2022 Resource Triangle