Barrick Gold Corporation (GOLD) will officially change its name to Barrick Mining Corporation on May 9. This gold-focused mining giant is leveraging its strong performance in the Q1 2025 fiscal report to accelerate its transformation into a diversified mining leader with a dual focus on gold and copper. The rebranding reflects a strategic shift—while maintaining its gold foundation, the company aims to capitalize on the surging demand for copper driven by the global energy transition.
Barrick’s Q1 2025 results demonstrate its ability to balance short-term targets with long-term projects:
The rationale behind the name change lies in Barrick’s copper strategy. CEO Mark Bristow has positioned copper as the company’s future core, calling it the “metal of the energy transition.” By 2030, Barrick aims to increase its gold-equivalent production by 30%, with copper playing a key role in achieving this goal.
To strengthen strategic execution, the company has added Ben van Beurden and Pekka Vauramo to its board. Financially, Barrick’s $4.1 billion cash reserves and lack of major debt maturities before 2032 provide ample support for dividend payouts and buybacks.
2029 Outlook: The Rise of a Dual-Metal Giant
Over the next five years, Barrick’s annual gold production could approach 5 million ounces, while copper output may exceed 1 billion pounds. Backed by a top-tier asset portfolio and exploration successes, operating costs are expected to decline further.
For investors, Barrick’s stock offers both the safe-haven appeal of gold and the growth potential of copper. By 2029, the company will not only be synonymous with gold but also a benchmark for green energy metals and stable returns. With gold prices hitting record highs and copper prices strengthening due to supply deficits, Barrick’s stock could emerge as a prime choice for investors over the next five years—delivering steady growth, operational excellence, and resilient cash flows.
