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INVESTMENTS | 12 Months Ended
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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 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). 2 Refer 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 | 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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- Definition The disclosure of investments accounted for using the equity method. [Refer: Investments accounted for using equity method] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard -URIDate 2024-03-27 + Details
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