Barrick Gold Corporations ((GOLD – Free report) Kibali Mine gave a strong performance in the last quarter of 2024. These performance resulted in the highest annual transit since the commissioning. This was culminated by the constant focus of the mine on operational excellence and their ability to deliver strong results.
As explained by Barrick’s Chief Operating Officer for Africa and Het Midden -East, 2024 was a challenging year in which some leadership changes were called. Despite the challenges, Kibali Mine has proven his consistency and efficiency as a cheap producer, building the basis for strong results in 2025 and then. In addition, management has also focused on exploration in the potential reserves within the truck distance of the factory, aimed at strengthening the mine reserve pipeline.
Most of Kibali electricity is supplied by three hydropower stations. Gold is progressing to the construction of a 16MW Sun Factory in Kibali to help reduce the car dioxide emissions from 45kt to 24kt per year and fuel consumption by 53%, while the renewable component of its energy mix increases from 81%to 85%.
With the possibility of supporting the hydropower during the dry season of the region, the Kibali will also enable it to work with 100% renewable electricity six months of the year. Kibali is the largest gold mine in Africa, gold is an example for transition to renewable energy in the mining of the country.
With regard to sustainability, the mine has also made improvements by reducing the extraction of fresh water from the Kibali river with the help of a modified water ingredience system.
As part of Barrick’s efforts to stimulate local content, it works on creating jobs, improving resources and supporting local companies. Only Kibali has contributed more than $ 5.7 billion to the Congolese economy to date. The heavy investments of the company in community development projects have been led to elevate local companies.
Gold supply was won 1.7% in the past year compared to the increase in industry of 31.5%.
Image source: Zacks Investment Research
Gold’s Zacks rank and important choices
Gold currently has a Zacks Rank #3 (Hold).
Some better ranked shares in the basic material space are Venity Corporation ((NGVT – Free report), Carpenter Technology Corporation ((CRS – Free report) and Methanex Corp. ((Meoh – Free report). While NGVT has a Zacks Rank #1 (Strong Buy), CRS and Meoh currently each have a Zacks Rank #2 (buy). You can see it The complete list of the rank shares of today Zacks #1.
The Zacks Consensus estimate for the current year in Vegity is linked to $ 2.75 per share. NGVT defeated the estimate of the Zacks -Consensus in three of the lagging four quarters and missed once, with the average profit surprise 95.4%. The shares were won 1.3% in the past year.
The Zacks Consensus estimate for the current profit of the tax year of Carpenter Technology is linked to $ 6.77 per share. CRS defeated the Zacks consensus estimate in each of the lagging four quarters, with the average profit surprise 14.1%. The shares have risen 225.7% in the past year.
The Zacks Consensus estimate for the current year income from Methanex is linked to $ 3.49 per share. Meoh surpassed the Zacks consensus estimate in each of the lagging four quarters, with an average profit surprise of 100.9%. The share has been won 7.8% in the past year.