Today we review Barrick Gold Corporation for you. What is Barrick Gold Corporation? How does it work? What services do they provide? Are there better alternatives? This is just a few of the questions we help you answer!
Name of the Company: Barrick Gold Corporation
Official Website URL: https://www.barrick.com/
Founder: Peter Munk
Products: Gold
P.S.
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Intro
Promising a service and product and actually going on to deliver is one of the things that contributes to the success of any business entity. With the consistent delivery of quality and value across the entire supply chain, a company is able to earn its position amongst the key players in the industry it is found in, provided it is has a global footprint. What can we say about Barrick Gold Corporation? Has it earned its current position in the industry it offers its products in? Let us find out by providing the answers to these questions:
– What is this company about?
– How does it work?
– What are the products that Barrick Gold offers?
– Is it a genuine company?
– Are there any investment and income-generating opportunities?
– Are there any alternatives to the products offered by Barrick Gold?
– What are the pros and cons of this company?
What is Barrick Gold Corporation?
Barrick Gold Corporation is definitely a major sensation in the entire world, with it being famed as the largest gold mining company. This company’s headquarters are in Toronto, Ontario, Canada. Since its formation in 1983, this company has managed to set foot in 15 countries, where it does its mining and exploration activities. The countries that Barrick Gold has managed to set foot on include: Zambia, Saudi Arabia, Mali, Papua New Guinea, United States, Senegal, DRC, Argentina, Canada, Cote d’Ivoire, Australia, Chile, and the Dominican Republic.
Barrick Gold Corporation strives to remain at the top of the industry, in as far as the finding, development as well as the owning of the best assets that will help in the delivery of sustainable returns is concerned. With this company’s staff members’ sense of shared responsibility and accountability, Barrick Gold continues to effectively satisfy the needs of those who need gold as a financial investment instrument.
Peter Munk, the founder of Barrick Gold, is the one person whose name will almost certainly come up when this company’s name is mentioned. Under his very able leadership, he was able to help Barrick Gold achieve rapid growth and rise to be the global leader in the gold mining niche. His entrepreneurial spirits, fiscal management as well as strong technical expertise are just but the few outstanding elements that Peter managed to successfully transfer to the staff members at Barrick Golf, prior to his retirement in 2018.
How does it work?
Barrick Gold Corporation has managed to set itself apart from its counterparts through the creation of value through exploration. This is the reason it has managed to discover close to 129,000,000 ounces of gold since the year 1990, at the cost of $29 per every ounce. This is approximately half the cost incurred by other companies in the gold industry, thus Barrick Gold is able to constantly remain a profitable company.
Barrick Gold Corporation achieves its objectives by creating exploration projects in several regions in the world. With Barrick having one of the deepest pipeline projects in this niche, it is able to provide optionality to its clients and leverage to gold prices. This company has brownfield projects set up near existing operations, greenfield exploration projects, as well as the largest undeveloped gold deposits distributed across the world. The greenfield projects are located at Massawa, Donlin Gold, Norte Abierto, Pascua-Lama, and Alturas.
Products
Barrick Gold Corporation is mainly famous for the exploration, mining, and production of gold, but it is also one company whose expertise and effectiveness in copper mining cannot be underplayed. In 2019, Barrick Gold Corporation is set to mine between 5.1- 5.6 million ounces of gold. The cost of sales per each ounce of the gold varies between $880 and $940. Concurrently, this company is also set to mine 375 to 430 million pounds of copper in 2019. The cost of sales per pound of copper will be $2.30 to $2.70.
Beyond being able to offer gold and copper to investors and manufacturers, Barrick Gold Corporation also offers stocks that can be used to create sustainable wealth by those who are skilled in the trade. The stocks and indexes offered by this company are listed in the following exchanges:
1. Toronto Stock Exchange – The Barrick Gold stock is traded as ABX.
2. New York Stock Exchange-The Barrick Gold stock is traded as GOLD.
3. S&P/TSX 60 component.
Is Barrick Gold Corporation a Scam or Legit?
It is hard for a company to claim that it is a global leader in the provision of a given product and service and not get scrutinized by relative authorities. This is the reason it is safe to say that Barrick Gold Corporation is a genuine company offering genuine products to its clients.
You can actually access data about its stock listed on TSX (https://web.tmxmoney.com/quote.php?qm_symbol=ABX), just to verify that it is an existent and genuine company. Beyond that, this company was founded by Peter Munk, whose information is available all over the internet.
Investment and income-generating opportunities?
As an investor, you would mainly benefit from this company through purchasing gold and stocks and holding them for a long time. If you have the necessary skills, you can end up growing your wealth over a defined period of time. Beyond that, the only other way you would possibly earn an income from this company is through applying for a job (https://www.barrick.com/English/careers/default.aspx).
Pros and Cons
It is always wise and recommended to compare the positives against the negatives to get a better overall view of something. As always in our reviews we provide you with some clear point on both sides of the spectrum:
Pros
– Is a global leader in the mining and exploration of gold.
-Its stocks are listed on NYSE.
-Able to control gold prices since it is a global leader in the industry.
Cons
-Has a low pay policy and pay transparency on Payscale (opens in new window)
Alternatives to Barrick Gold
Reading this review may have sparked up some thoughts about how you can build your wealth by working with the products offered by Barrick Gold Corporation. Fortunately enough there are better options through which you can grow your wealth or even an income. Gold IRAs are my recommended alternative in this case.
With a self-directed gold IRA, you are in a position to access the custodial services of expert custodians, as well as the financial services offered. Tax-advantaged IRAs will offer you more benefits and stability than you can imagine, hence should be your to-go-to investment platform as far as investing in gold is concerned.
With a company such as GOLDCO, you are likely to end up being a happy retiree.
I also want to recommend Resource Insider as they let you invest like a Mining Magnate with you having to be one…
P.S.
Both of the companies mentioned here also offer other services that you as an investor might find very beneficial so it might be a wise thing of you to have a look at both of them and take advantage of their great FREE services to start with.
Our #1 recommendations (best of both worlds) below:
==> Learn more about our #1 recommended IRA Gold company on this page
Or,
==> If you want to invest like a Mining Magnate then Resource Insider is our #1 recommendation
Do You Own or represent Barrick Gold Corporation?
If you are a representative, or associate of Barrick Gold Corporation and have found something not to be correct in this review please, feel free to tell us and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or simply by sending us an e-mail to contact@goldretired.com.
Final words and verdict
Verdict: Legit
Overall rating: 
(4 / 5)
Ok, I think that sums up the overall view of Barrick Gold Corporation pretty good. It is a legit service for sure, however, if it is the right one for you or not is something you have to decide yourself. It is always a wise thing to educate yourself as much as possible in the areas you are interested in. It might be a good thing for you, however, make sure to get your info from more than one source.
You made a wise decision to read this review and you are a smart person so I am absolutely sure that you will find the right company to do business with that suits your particular needs the most.
What I would recommend?
There are many great investment services out there. We have many Gold Mining investment opportunities and services, coin dealers, IRA service providers, and financial services in general listed on this website, mostly for precious metals and Bitcoin but also for other alternative investments.
You can find the best from 2 worlds that we can recommend below:
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I hope you found this short review of Barrick Gold Corporation to be helpful and that you now have a better understanding of what it is and if it is something for you or not. Please, if you have used any of their services then share your experience in the comment section below as it can help others! Also, if you got any questions about this review I will be more than happy to answer them below!
I wish you success!
Michael,
founder of: Goldretired.com
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