Barrick vs Newmont: The Battle of 2016’s Top Gold Producer

by Ina King (Potgieter)

February 2016: In the race to become 2016’s highest producing gold miner, a recent analysis of both companies’ 2015 results suggest that Newmont could overtake Barrick Gold for the top spot.

The world’s number one and two gold producers released full 2015 results and 2016 outlooks in mid-February this year. The results show that Barrick Gold’s 2015 production of 6+ million ounces is substantially lower than its 7.7 million ounces in 2010 and 2011.

Significantly, the past year was the last period of 6m-plus ounces of production for Barrick Gold. Owing to its "current asset mix and subject to potential divestments", Barrick Gold predicts its annual gold production to remain at 4.5 million ounces until 2020.

In this period of production decline where Barrick Gold has been shutting down mines, the world’s second largest producer, Newmont Mining, is on the rise topping 5-million ounces for the first time in 2015. Newmont is set to remain stable at between 4.5 and 5 million ounces through 2020.

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