Barrick Gold SWOT Analysis, USP & Competitors

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SWOT Analysis of Barrick Gold with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Barrick Gold

Parent Company

Barrick Gold Corporation

Category

Metals and Mining

Sector

Minerals and metals

Tagline/ Slogan

Disciplined, profitable production

USP

Largest gold mining company in the world

STP

Segment

Industrial segmentation

Target Group

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.

SWOT Analysis

Strengths

1. Barrick operates mines and advanced exploration and development projects on five continents
2. Strong employee base at 20,000+ employee approximately
3. Probable gold mineral reserves stand at 130+ million ounces

4. Reported environment-related spending of USD $90 million
5. Barrick Gold installed the world's highest-situated wind turbine at the Veladero mine in San Juan Province (Argentina) at nearly 4200m elevation
6. Operational excellence leading to the organization meeting its gold production 
7. High spending on technology , expansion and exploration with the best in class technology creating positive shareholder value and trust

Weaknesses

1. Criticisms include poisonous spills of cyanide, mercury and other heavy metals, leading to environmental damage and the poisoning of human populations
2. 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

Opportunities

1.Expansion of exploration in Nevada near its top tier mines, including Cortez and Goldstrike, with the potential to exceed company risk-adjusted return hurdles.
2. The company has an opportunity to be environmental friendly and a socially responsible organization.
3. Development of intensive distribution strategy for its products to tap on the resale market and increase profitability.

Threats

1. Faces threat of highly volatile gold prices in international market
2. Threat of government regulations in countries of operation due to mal practices and environment degradation charges on the company
3. Threat of substitute precious metals and stones which have increasing appreciation from customers

Competition

Competitors

1. Allied Nevada Gold Corp.
2. Alamos Gold Inc
3. AngloGold Ashanti Limited

4. Atlatsa Resources Corporation


The table above concludes the Barrick Gold SWOT analysis along with its marketing strategy and brand parameters.

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