Barrick Mining has published its operating and financial results for the fourth quarter and full year 2025, and reported a significant increase in revenue, leading to highest yearly shareholder returns in the company’s history.
In 2025, the company’s revenue was up 31% year on year to $16.96 billion, compared to $12.92 billion in 2024, while net earnings per share jumped 140%. Full-year gold production amounted to 3.26 million ounces while full-year copper production was 220,000 tonnes, consistent with the company’s guidance.
During the reporting year, Barrick settled all of its disputes with the government of Mali over royalty payments. At the peak of the conflict, the company’s Loulo-Gounkoto mining complex was placed under the provisional administration, the stockpiled gold was seized, and some of Barrick’s local employees were detained.
"The outstanding finish to 2025 showcases the strength of Barrick’s operations and the commitment of its people. The agreement in Mali to secure the release of our colleagues was a major success and I commend all who were involved for this tremendous result," said Barrick CEO Mark Hill.
Meanwhile, in Q4 2025 the company achieved another record quarterly financial performance, revenue jumped 45% year on year to $6 billion. In addition, the previously announced sales of Hemlo and Tongon projects closed successfully in Q4, bringing proceeds from non-core asset sales to $2.6 billion over the full year 2025.
The group’s production guidance for 2026 was set at 2.90 - 3.25 million ounces of gold, and 190,000 - 220,000 tonnes of copper. Key growth projects for the current year include Fourmile mine in Nevada, where drilling spend is expected to increase to $150 - $160 million, and the Lumwana expansion that remains slightly ahead of schedule. Reko Diq copper-gold project in Pakistan is undergoing a thorough review due to the recent increase in security incidents.
Theodor Lisovoy, Managing Editor, Rough&Polished
