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MATERIAL ACCOUNTING POLICY INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Material accounting policy information [Abstract] |
Schedule of subsidiaries other than 100% owned Barrick subsidiaries | Outlined below is information related to our joint arrangements and entities other than 100% owned Barrick subsidiaries at December 31, 2024:
| Place of business | Entity type | Interest 1 | Method 2
Nevada Gold Mines 3 | United States | Subsidiary | 61.5% | Consolidation
North Mara 3,4 | Tanzania | Subsidiary | 84% | Consolidation
Bulyanhulu 3,4 | Tanzania | Subsidiary | 84% | Consolidation
Loulo-Gounkoto 3 | Mali | Subsidiary | 80% | Consolidation
Tongon 3 | Côte d’Ivoire | Subsidiary | 89.7% | Consolidation
Pueblo Viejo 3 | Dominican Republic | Subsidiary | 60% | Consolidation
Reko Diq Project 3 | Pakistan | Subsidiary | 50% | Consolidation
Norte Abierto Project | Chile | JO | 50% | Our share
Donlin Gold Project | United States | JO | 50% | Our share
Veladero | Argentina | JO | 50% | Our share
Kibali 5 | Democratic Republic of Congo | JV | 45% | Equity Method
Jabal Sayid 5 | Saudi Arabia | JV | 50% | Equity Method
Zaldívar 5 | Chile | JV | 50% | Equity Method
Porgera Mine 5,6 | Papua New Guinea | JV | 24.5% | Equity Method
1 Unless otherwise noted, all of our JOs are funded by contributions made by the parties sharing joint control in proportion to their economic interest. 2 For our JOs, we recognize our share of any assets, liabilities, revenues and expenses of the JO. 3 We consolidate our interests in Carlin, Cortez, Turquoise Ridge, Phoenix, Long Canyon, North Mara, Bulyanhulu, Loulo-Gounkoto, Tongon, Pueblo Viejo and the Reko Diq project and record a non-controlling interest for the interest that we do not own. 4 The Government of Tanzania receives half of the economic benefits from the Tanzanian operations (Bulyanhulu and North Mara) from taxes, royalties, clearing fees and participation in all cash distributions made by the mines, after the recoupment of capital investments. Earnings are recorded proportionally based on our equity interests each period in accordance with the terms of the agreement with the Government of Tanzania. 5 Barrick has commitments of $541 million relating to its interest in the joint ventures, including purchase obligations disclosed in note 17 and capital commitments disclosed in note 19. 6 On December 22, 2023, we completed the Porgera Project Commencement Agreement, pursuant to which the Papua New Guinea (“PNG”) government and Barrick Niugini Limited (“BNL”), the 95% owner and operator of the Porgera joint venture, agreed on a partnership for the future ownership and operation of the mine. Ownership of Porgera is held in a joint venture owned 51% by PNG stakeholders and 49% by a Barrick affiliate, Porgera (Jersey) Limited (“PJL”). PJL is jointly owned on a 50/50 basis by Barrick and Zijin Mining Group and therefore Barrick holds a 24.5% ownership interest in the Porgera joint venture. Barrick holds a 23.5% interest in the economic benefits of the mine under the economic benefit sharing arrangement agreed with the PNG government whereby Barrick and Zijin Mining Group together share 47% of the overall economic benefits derived from the mine accumulated over time, and the PNG stakeholders share the remaining 53%. Refer to notes 4 for further details.
Schedule of estimated useful lives of major asset categories | Estimated Useful Lives of Major Asset Categories
Buildings, plant and equipment | 1 - 39 years
Underground mobile equipment | 3 - 7 years
Light vehicles and other mobile equipment | 1 - 7 years
Furniture, computer and office equipment | 1 - 7 years

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