Barrick Mining Corporation Reports Mixed 2Q25 Results Despite Revenue Growth

Strategic Insights -

Barrick Mining Corporation reported its 2Q25 results, with revenue growth driven by positive trends in the gold market, but a significant drop in sales volume due to an impairment charge related to the loss of control of a mine in Mali. Despite the revenue growth, the company's sales volume fell by approximately 19% year-on-year, and the exclusion of the Loulo-Gounkonto mine in Mali from the consolidation of results had a significant impact on the company's results. The impairment charge of $1.04 billion and the exclusion of the mine's gold production from its results contributed to a drop in 2Q25 sales volume to 770,000 ounces.

Key Takeaways:

  • Revenue grew 16% year-on-year to $3.68 billion, driven by positive trends in the gold market.
  • Sales volume fell by approximately 19% year-on-year to 770,000 ounces due to the exclusion of the Loulo-Gounkonto mine in Mali.
  • The impairment charge related to the loss of control of the mine in Mali was $1.04 billion.
  • Adjusted earnings per share rose 46% year-on-year to $0.47 and cash flow increased 16% year-on-year to $395 million.
  • Copper production rose 37% year-on-year to 59,000 tons.
  • The company excluded the mine's gold production from its results, which may pose a significant challenge for the company in the coming quarters.
  • The positive price trends in the gold market remain a driving force behind the company's results, but may not maintain the same dynamics in the future.

Statistics:

  • Revenue: $3.68 billion (+16% y/y)
  • Adjusted EBITDA: $2.32 billion
  • Real gold price per ounce: $3,295
  • Gold sales: 770,000 ounces (-19% y/y)
  • Gold production: 797,000 ounces
  • Copper production: 59,000 tons (+37% y/y)
  • Free cash flow: $395 million (+16% y/y)
  • Capital expenditures: $934 million (+14% y/y)

Sources:

  • Global Data Point, 2022, "Barrick Mining Corporation Reports Mixed 2Q25 Results Despite Revenue Growth"
  • SyndiGate Media Inc, ". Barrick Mining's stock opened down over 5.5%, but since the start of the session, we have seen a takeover by the demand side, pushing the quotes towards a reduction of the price gap"