Barrick Gold SWOT Analysis
Here is a detailed SWOT analysis of Barrick Gold covering strengths, weaknesses, opportunities and threats.
Barrick Gold Strengths
- Barrick operates mines and advanced exploration and development projects on five continents
- Strong employee base at 20,000+ employee approximately
- Probable gold mineral reserves stand at 130+ million ounces
- Reported environment-related spending of USD $90 million
- Barrick Gold installed the world's highest-situated wind turbine at the Veladero mine in San Juan Province (Argentina) at nearly 4200m elevation
- Operational excellence leading to the organization meeting its gold production
- High spending on technology , expansion and exploration with the best in class technology creating positive shareholder value and trust
Above are the strengths in the SWOT Analysis of Barrick Gold. The strengths of Barrick Gold looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Barrick Gold Weaknesses
- Criticisms include poisonous spills of cyanide, mercury and other heavy metals, leading to environmental damage and the poisoning of human populations
- Following accusations connected with the Porgera Gold Mine, the company was excluded from The Government Pension Fund of Norway, one of the world's largest sovereign wealth funds
These were the weaknesses in the Barrick Gold SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Barrick Gold Opportunities
- Expansion of exploration in Nevada near its top tier mines, including Cortez and Goldstrike, with the potential to exceed company risk-adjusted return hurdles.
- The company has an opportunity to be environmental friendly and a socially responsible organization.
- Development of intensive distribution strategy for its products to tap on the resale market and increase profitability.
Above we covered the opportunities in Barrick Gold SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Barrick Gold Threats
- Faces threat of highly volatile gold prices in international market
- Threat of government regulations in countries of operation due to mal practices and environment degradation charges on the company
- Threat of substitute precious metals and stones which have increasing appreciation from customers
The threats in the SWOT Analysis of Barrick Gold are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the Barrick Gold SWOT analysis.
About Barrick Gold
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Barrick Gold Overview | |
|---|---|
| Parent Company |
Barrick Gold Corporation |
| Category |
Metals and Mining |
| Sector | |
| Tagline/ Slogan |
Disciplined, profitable production |
| USP |
Largest gold mining company in the world |
| Barrick Gold STP | |
| Segmentation |
Industrial segmentation |
| Target Market |
World wide network of distributors, developers and designing organizations |
| Positioning |
Worlds largest gold mining company with vision to be the world’s best gold mining company by operating in a safe, profitable and responsible manner. |
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