American Barrick Resources Corp.

American Barrick Resources Corp. has come farther, faster in the last 11 years than any mining company in recent memory. Acquisition of Lac Minerals Ltd. in August 1994 now makes Barrick the largest gold producer in the world outside South Africa. In terms of market capitalization, the company is the world's most valued gold producer. American Barrick's 28.3-km2 (7000acre) Goldstrike property on Nevada's Carlin Trend, the primary engine for past growth, was purchased in 1987 for $62 million. Regarded as an attractive exploration target, Goldstrike instead propelled American Barrick to the front rank of world gold producers. In 1993, the company produced 50.75 t (1,631,988 oz), 44.78 t (1,439,929 oz) from Goldstrike. Reserves on the property totaled 905 t (29.1 million oz) at the end of 1993, the largest in North America.