Barrick Gold (ABX)

Barrick Gold Corporation is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario in Canada. Barrick Gold has a portfolio of 27 operating mines, many advanced exploration and development projects located across five continents, and large land positions on the most prolific and prospective mineral trends. The company also has the largest reserves in the industry, with 124.6 million oz of proven and probable gold reserves and 6 billion pounds of copper reserves. The company expects 2008 gold production of about 7.6 7.8 million oz and copper production of 380 400 million pounds. Total cash costs are expected to be $425 to $445 per oz for gold and $1.15 to $1.25 per pound for copper, which puts the company in the top 40% worldwide (and in the top 10% net of the copper credit) among gold producers such as Newmont Mining (based in U.S.) and AngloGold Ashanti (based in South Africa). The company produces is 40% in North America, 26% in South America, and 26% in Asia. The Barrick Gold portfolio consists of royalties on 77 properties, including 8 producing royalties, 20 development and evaluation stage properties, and 49 exploration projects. Over 75% of the portfolio consists of precious metals royalties.

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