Barrick Gold’s new growth committee will evaluate strategies to optimize the development of the company’s existing reserves and resources while adding new resources through exploration. The company said it will also play a central role in assessing external acquisitions and earn-in opportunities, all with the objective of growing free cash flow per share over the long term. The committee will serve as a central clearing house to ensure strategic alignment and appropriate coordination of all major growth initiatives across the company.
Planning for and managing future growth is critical for any mining company. Achieving it, according to Barrick, relies on many groups working together, including mine exploration, business development, reserves and resources teams, along with the finance group. To support a closer collaboration with its general managers and executive directors, Barrick said it is creating this growth committee with members from the most senior levels of the company.
Serving on this committee will be Rob Krcmarov, Kevin Thomson, and Catherine Raw. Barrick recently promoted Krcmarov, currently senior vice president, global exploration, to the position of executive vice president, exploration and growth. For the past 10 years, Krcmarov has led a global team of geoscientists and exploration professionals who have discovered several large gold deposits, including Lagunas Norte and Goldrush, in addition to Alturas, an equally promising new discovery in Chile. The company also recently announced that Raw, who is currently senior executive vice president, strategic matters, will become executive vice president and CFO at the end of April. Thomson was appointed senior executive vice president, strategic matters, in October 2014.
