Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Barrick Gold analyses the brand by its strengths, weaknesses, opportunities & threats. In Barrick Gold SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Barrick Gold to benchmark its business & performance as compared to the competitors. Barrick Gold is one of the leading brands in the heavy equipment & engineering sector.
The table below lists the Barrick Gold SWOT (Strengths, Weaknesses, Opportunities, Threats), top Barrick Gold competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).
World wide network of distributors, developers and designing organizations
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 of Barrick Gold
Barrick Gold Strengths
Below are the Strengths in the SWOT Analysis of Barrick Gold:
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
Barrick Gold Weaknesses
Here are the weaknesses in the Barrick Gold SWOT Analysis:
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
Barrick Gold Opportunities
Following are the Opportunities in Barrick Gold SWOT Analysis:
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.
Barrick Gold Threats
The threats in the SWOT Analysis of Barrick Gold are as mentioned:
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
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