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International Business Project

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  • 1. International Business Project Barrick Gold Corp Hojun Yun
  • 2. Company Information
    • Name: Barrick Gold Corp
    • Industry: Mining
    • Founded: 1983
    • Founder: Peter Munk
    • Products: Gold, Silver, Copper
  • 3. Brief History of Company
    • Barrick gold was found by Peter Munk 1983. In 1994, company starts to expand its business globally from Chile. Today it has 27 mines all over the world.
    • 1980: Barrick Petroleum Corporation is founded. 1983: Name changes to Barrick Resources Corporation; IPO on Toronto stock exchange is completed. 1985: Company name again changes, to American Barrick Resources Corporation. 1987: Barrick gains full ownership of Nevada's Goldstrike Property. 1995: Company finally named Barrick Gold Corporation. 1997: Gold prices crash; Barrick takes third quarter hit (first earnings loss) and closes four mines. 1998: Record earnings top $300 million; profits per ounce are six times nearest rival.
  • 4. Size of the Company
    • Sales: $6,332 million(2007)
    • Number of Facilities: 4
    • Number of employees: 20,000
    • Net income: $1,119 million
    • Number of mine: 27
    • Divisions: Africa, Australia, North America, South America
  • 5. Extent of International Business
    • North America: 3.2 million ounces of gold in 2007 at total cash costs of $370 per ounce.
    • 35%
    • South America: 2.1 million ounces of gold in 2007 at total cash costs of $197 per ounce.
    • 32%
    • Australia pacific: 2.1 million ounces of gold in 2007 at total cash costs of $452 per ounce and 87 million pounds of copper at total cash costs of $1.37 per pound.17%
    • Africa: produced 605,000 ounces of gold in 2007 at total cash costs of $408 per ounce.16%
    • Company has only three mines in its own country and the other 24 mines are at over sea.
  • 6.  
  • 7. Article
    • http://www.corpwatch.org/article.php?id=14466
    • How Barrick threatens indigenous spiritual grounds.
    • On-going community struggles against Barrick around the world.
    • http://www.ens-newswire.com/ens/nov2008/2008-11-24-02.asp
    • How Barrick threatens indigenous spiritual grounds.
    • On-going community struggles against Barrick around the world.
  • 8. Letters to the shareholders
    • Gold production for the year was 8.6 million ounces, at total cash costs per ounce of $282, meeting our original guidance;
    • copper production was 367 million pounds, exceeding our original production guidance, at total cash costs of $0.79 per pound;
    • Earnings per share increased 136 per cent to $1.77; and
    • Cash flow per share from operations rose 84 per cent to $2.48.
  • 9.
    • Thank you for listening

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