Page 19 - Bullion World Volume 3 Issue 3 March 2023

Bullion World | Volume 3 | Issue 3 | March 2023

Mining Indaba: Highlights of select gold

industry presentation

Industry leaders from Global mining companies and industry participants presented their views at the Mining
Indaba summit held at Cape Town, South Africa, from February 6th to 9th. The following are the compilation of
the presentations taken from the respective company websites

Key facts presented about the projected annual production
company of 6-7 million ounces of gold in
1. Newmont Corporation is a 2023.
global leader in the gold mining
industry, with a presence in 14 The global gold mining industry is
countries and five continents expected to continue to grow over
with operations in America, the next few years, with production
Australia, and Africa. anticipated to increase at a
2. Newmont Corporation is the compound annual growth of 2.6 per
largest producer of gold, with cent from 2019 to 2023.
a portfolio of 26 operating
mines and 14 advanced-stage Global mining investment is
development projects. projected to reach a peak of $876
3. Newmont Corporation has billion in 2023. This is primarily
invested over $1 billion in safety driven by the demand for gold in
and environmental initiatives China, India, and other emerging
Mr Tom Palmer since 2000. markets. In addition, the US mining
Senior Vice President 4. The corporation is well- industry could peak at $60 billion in
Newmont Corporation positioned to capitalise on the 2023, and global mining technology
global gold mining industry’s investments are projected to reach
growth opportunities, with a $50 billion by the same year.

Barrick Gold is one of the world’s support the communities where it
largest gold producers, with 27 operates.
operating mines and projects across
10 countries. On the importance of collaboration
between the industry and the
In 2020, the company produced 6.6 governments, it was noted
million ounces of Gold. Barrick Gold that Barrick has worked with
is currently focused on developing governments and other stakeholders
new projects in the US, Canada, to develop a responsible approach to
and the Dominion Republic. Barrick gold mining.
Gold Corporation plans to invest
an additional $1 billion to fund Key facts presented about the
its exploration and development company
programs in the coming years. 1. Total Gold production of 6.6
million ounces for the year 2022.
The company is committed to 2. Total Gold Reserves of 77.3
sustainable and ethical practices, million ounces.
including a commitment to reduce 3. Total Cash costs of $811 per
its carbon footprint. The corporation ounce of gold sold for the year
has achieved a 40% reduction in 2022.
scope 1 and 2 emissions since 4. Total Capital expenditure of Mr Mark Bristow
2017. Additionally, the company $1.1billion for the year 2022 President and CEO, Barrick Gold
has invested in several initiatives to 5. Total Net Earnings of $ 1.1 billion
for the year 2022.

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