Barrick Gold
Q4 2022 Earnings Call
Feb 15, 2023, 11:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by. This is the event operator. Welcome to Barrick's results presentation for the fourth quarter and full year of 2022. Following today's presentation, a question-and-answer session will be conducted.
[Operator instructions] We will also be taking questions from those in the room. As a reminder, this event is being recorded, and a replay will be available on Barrick's website later today, February 15th, 2023. I would now like to turn you over to Mark Bristow, president and CEO of Barrick. Please go ahead, sir.
Mark Bristow -- President and Chief Executive Officer
Thank you very much, ma'am, and a very good morning and good afternoon, ladies and gentlemen, for those here in Toronto and elsewhere across the globe. As you know, we are going to be talking about our quarter four and 2022 results today. And looking back, the past year didn't turn out the way anyone expected. I'm sure you'll agree with me.
But against the background of further geopolitical deterioration, there were some fundamental changes in our global financial landscape, which heralded, I believe, the end of the easy-money era and a new regime of high interest rates, high inflation, and high risk. On a positive side and in response to this, gold was one of the better performing asset classes, and it was also good to see the copper price pick up. While gold has always been the world's most precious metal, copper has, I believe, become its most strategic. Barrick owns the industry's biggest and best gold portfolio.
We are the largest producer in the United States and Africa, and we're steadily increasing our copper holdings. And as I plan to share with you today, our proven long-term strategy drives our ability to create and deliver value even in difficult times. I draw your attention to the formal cautionary statement, which can be reviewed in full on our website. In 2018, when John Thornton and I agreed on the merger of Barrick and Randgold, we spent a lot of time designing the strategy we would use to create a new industry leader.
We wanted a company that would stand out from the crowd, driven by a fundamental promise to our stakeholders that we would do what we said we would do. And we have done exactly that. Since then, we have produced around 19 million ounces of gold and 1.7 billion pounds of copper. Gold reserves have increased to 76 million ounces.