v3.25.4
INVENTORIES (Tables)
12 Months Ended
Dec. 31, 2025
Inventories [Abstract]  
Schedules of inventories and inventory impairment charges n Inventories
Gold
Copper
 
As at
December 31,
2025
As at
December 31,
2024
As at
December 31,
2025
As at
December
31, 2024
Raw materials
  Ore in stockpiles
$3,019
$2,847
$283
$205
  Ore on leach pads
558
470
Mine operating supplies
606
707
76
52
Work in process
181
136
Finished products1
130
258
7
50
$4,494
$4,418
$366
$307
Non-current ore in stockpiles and on leach pads2
(2,577)
(2,616)
(215)
(167)
 
$1,917
$1,802
$151
$140
1On January 2, 2025, an interim attachment order was issued by the Senior Investigating Judges of the Pôle National Économique et
Financier (“Pôle Économique”) against the existing gold stock on the site of the Loulo-Gounkoto mining complex. On January 11, 2025, the
gold was removed from the site to a custodial bank. This gold doré had a carrying value of $92 million at the time of its removal and was
included in finished products as at December 31, 2024. This gold doré was part of the acquired assets when Barrick regained control of the
Loulo-Gounkoto mining complex on December 16, 2025 and was sold before the end of the 2025 year.  Refer to notes 4 and 35 for further
details.   
2Ore that we do not expect to process in the next 12 months is classified within other long-term assets.
Inventory Impairment Charges
For the years ended December 31
2025
2024
Cortez
$3
$28
Carlin
17
Long Canyon
1
2
Phoenix
1
Inventory impairment charges
$4
$48
Ore in Stockpiles
As at December
31, 2025
As at December
31, 2024
Gold
Carlin
$1,184
$1,045
Pueblo Viejo
835
811
Loulo-Gounkoto
166
126
Turquoise Ridge
267
297
Cortez
221
206
North Mara
174
182
Phoenix
138
114
Veladero
33
48
Tongon
17
Bulyanhulu
1
1
Copper
Lumwana
283
205
 
$3,302
$3,052
Ore on Leach pads
As at December
31, 2025
As at December
31, 2024
Gold
Veladero
$228
$190
Carlin
147
148
Cortez
130
95
Turquoise Ridge
34
34
Long Canyon
3
Phoenix
19
 
$558
$470