INVESTMENTS

12 Months Ended

Dec. 31, 2024

Disclosure of joint ventures [abstract]

Investments

n Investments


Equity Accounting Method Investment Continuity
			Kibali			Jabal Sayid			Zaldívar			Porgera			Other			Total
At January 1, 2023			$2,659			$382			$890			$—			$52			$3,983
Investment in equity accounting method investment1			—			—			—			703			—			703
Equity pick-up (loss) from equity investees			145			102			(16)			—			1			232

Dividends received from equity investees			(180)			(93)			—			—			—			(273)
Non-cash dividends received from equity investees2			(505)			—			—			—			—			(505)
Shareholder loan repayment			—			—			—			—			(7)			(7)
At December 31, 2023			$2,119			$391			$874			$703			$46			$4,133
Investment in equity accounting method investment1			—			—			—			7			—			7
Equity pick-up (loss) from equity investees			108			119			1			22			(2)			248
Funds invested			—			—			—			55			4			59
Dividends received from equity investees			(88)			(109)			—			—			(1)			(198)
Non-cash dividends received from equity investees2			(124)			—			—			—			—			(124)
Equity earnings adjustment			—			—			—			(7)			—			(7)
Shareholder loan repayment			—			—			—			—			(6)			(6)
At December 31, 2024			$2,015			$401			$875			$780			$41			$4,112

1 Refer to note 4.

2 Includes a non-cash dividend distributed as JV receivable. Refer to note 18 and note 22.


Summarized Equity Investee Financial Information
			Kibali						Jabal Sayid						Zaldívar						Porgera2
For the years ended December 31			2024			2023			2024			2023			2024			2023			2024			2023
Revenue			$1,650			$1,488			$544			$492			$714			$720			$445			$—
Cost of sales (excluding depreciation)			639			593			188			167			517			545			191			—
Depreciation			294			322			48			48			178			162			58			—
Finance expense (income)			77			14			1			1			7			11			(21)			—
Other expense (income)			49			90			—			1			2			6			7			—
Income before income taxes			$591			$469			$307			$275			$10			($4)			$210			$—
Income tax expense			(346)			(154)			(69)			(71)			(8)			(29)			(82)			—
Net income			$245			$315			$238			$204			$2			($33)			$128			$—
Other comprehensive loss			—			—			—			—			(4)			—			—			—
Total comprehensive income (loss)			$245			$315			$238			$204			($2)			($33)			$128			$—
Net income (net of non-controlling interests)			$216			$290			$238			$204			$2			($33)			$128			$—



Summarized Balance Sheet
			Kibali						Jabal Sayid						Zaldívar						Porgera2
For the years ended December 31			2024			2023			2024			2023			2024			2023			2024			2023
Cash and equivalents			$89			$123			$105			$97			$97			$38			$91			$1
Other current assets1			309			225			163			143			659			571			258			182
Total current assets			$398			$348			$268			$240			$756			$609			$349			$183
Non-current assets			3,851			3,896			395			402			1,762			2,014			3,106			2,837
Total assets			$4,249			$4,244			$663			$642			$2,518			$2,623			$3,455			$3,020
Current financial liabilities (excluding trade, other payables & provisions)			$968			$307			$1			$2			$78			$86			$20			$14
Other current liabilities			351			149			96			90			103			121			123			29
Total current liabilities			$1,319			$456			$97			$92			$181			$207			$143			$43
Non-current financial liabilities (excluding trade, other payables & provisions)			62			771			1			4			7			50			1			7
Other non-current liabilities			875			820			8			9			565			599			806			733
Total non-current liabilities			$937			$1,591			$9			$13			$572			$649			$807			$740
Total liabilities			$2,256			$2,047			$106			$105			$753			$856			$950			$783
Net assets			$1,993			$2,197			$557			$537			$1,765			$1,767			$2,505			$2,237
Net assets (net of non-controlling interests)			$1,806			$2,015			$557			$537			$1,765			$1,767			$2,505			$2,237

1Zaldívar other current assets include inventory of $545 million (2023: $448 million).

2Refer to note 4.

The information above reflects the amounts presented in the financial information of the joint venture adjusted for differences between IFRS and local GAAP and fair value adjustments on acquisition of equity in investees.


Reconciliation of Summarized Financial Information to Carrying Value
			Kibali			Jabal Sayid			Zaldívar			Porgera1
Opening net assets (net of non-controlling interests)			$2,015			$537			$1,767			$2,237
Investment in equity accounting method investment			—			—			—			30
Income for the period (net of non-controlling interests)			216			238			2			128
Dividends received from equity investees			(176)			(218)						—
Non-cash dividends received from equity investees			(249)			—			—			—
Funds invested			—			—			—			110
Other comprehensive loss			—			—			(4)			—

Closing net assets (net of non-controlling interests), December 31			$1,806			$557			$1,765			$2,505
Barrick's share of net assets			904			278			883			787
Equity earnings adjustment			—			—			(10)			(7)
Goodwill recognition			1,111			123			—			—
Carrying value			$2,015			$401			$875			$780

1Refer to note 4.