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INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure of joint ventures [abstract] |
Schedules of equity accounting method 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 investment 1 | — |  | — |  | — |  | 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 investees 2 | (505) |  | — |  | — |  | — |  | — |  | (505) |  |
Shareholder loan repayment | — |  | — |  | — |  | — |  | (7) |  | (7) |  |
At December 31, 2023 | $2,119 |  | $391 |  | $874 |  | $703 |  | $46 |  | $4,133 |  |
Investment in equity accounting method investment 1 | — |  | — |  | — |  | 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 investees 2 | (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 | Porgera 2
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 | Porgera 2
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 assets 1 | 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 |
1 Zaldívar other current assets include inventory of $545 million (2023: $448 million). 2Refer to note 4.
Schedule of reconciliation of summarized financial information to carrying value of equity investee |
Reconciliation of Summarized Financial Information to Carrying Value |  |  |  |
| Kibali | Jabal Sayid | Zaldívar | Porgera 1
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.

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