FinancialNewsMedia.com News Commentary In uncertain economic times, investors tend to put their money in gold. So it's perhaps little surprise that gold prices started to rise at the beginning of the year as the coronavirus started spreading in China and Europe and investors feared a global economic downturn. Gold prices have soared so far this year and many analysts predict gold will top $2,000. Gold usually rises [...]
Barrick Gold Corp. today announced that Moody’s Investors Service has upgraded the senior unsecured ratings of Barrick and all rated subsidiaries to Baa1 from Baa2, with a Stable outlook. In a news release announcing the upgrade, Moody’s noted that Barrick’s liquidity is excellent, which provides significant flexibility to maneuver through gold price volatility. Senior executive vice-president and chief financial officer [...]
Barrick Gold Corp.’s Loulo-Gounkoto complex remains on track to meet the upper end of its 2020 guidance in the face of multiple challenges including a military coup in Mali. Barrick president and chief executive Mark Bristow attributed this performance to the company’s long-established relationships with partners in Mali and its philosophy of sharing the benefits it creates with its local stakeholders. Over the past 24 [...]
Barely a year after it was established, Twiga Minerals Corporation has demonstrated the value-creating capacity of a true partnership between a mining company and its host nation, Barrick president and chief executive Mark Bristow said here today at a press briefing following his quarterly mine visits. Twiga is a joint venture between Barrick and the Government of Tanzania, and oversees the management of Barrick’s assets [...]
Barrick Gold Corp.’s Kibali mine is on track to deliver at the upper end of its 2020 guidance, president and chief executive Mark Bristow said here today. Kibali was the first underground gold mine in the DRC and one of the largest in the world. It is a global leader in automation and continues to improve efficiency and productivity through ongoing technological innovation. In the third quarter it set a new ore delivery [...]
The Pueblo Viejo mine, operated by Barrick Gold Corp., paid $108 million in taxes and royalties this month to the Dominican government. This includes advance payment of income tax, net profit interest and royalties, including an advance payment of the royalty for the year 2021 estimated at $47 million. This is the fourth tax payment the mine has made so far this year and brings its contribution to the Dominican government [...]
All amounts expressed in US dollars TORONTO, Oct. 15, 2020 -- Barrick Gold Corp. today reported preliminary third quarter sales of 1.25 million ounces of gold and 116 million pounds of copper, as well as preliminary third quarter production of 1.16 million ounces of gold and 103 million pounds of copper. Group gold production for the first nine months of 2020 was 3.6 million ounces, and the company remains on track to [...]
Barrick Gold Corp. announced today that wholly-owned subsidiaries of Barrick and Bullfrog Gold Corp. have entered into a definitive purchase agreement pursuant to which Barrick will sell to BFGC all of Barrick’s mining claims, historical resources, permits, rights of way and water rights in the Bullfrog mine area. The transaction is expected to close during the fourth quarter of 2020. The Mineral Lease and Option to [...]
Twiga Minerals Corporation, the joint venture between the Tanzanian government and Barrick Gold Corp. , has paid a maiden interim cash dividend of $250 million in line with Barrick’s commitment to generate value for all stakeholders through the 50/50 partnership. Since Barrick took over the former Acacia Mining’s assets in Tanzania just over a year ago, it has paid approximately $205 million to the government in taxes [...]
Barrick will release its Q3 2020 results on Thursday, November 5, 2020. President and CEO Mark Bristow will again host a virtual presentation on the results that day at 11:00 EST, with an interactive webinar linked to a conference call. Participants will be able to ask questions. The company will release its preliminary production, sales and cost information for Q3 2020 on Thursday, October 15, 2020. Release of Q3 [...]
In line with its strategy of focusing on Tier One assets, Barrick Gold Corp. has completed the recently announced transaction pursuant to which Skeena Resources Ltd. exercised its option to acquire the Eskay Creek project and Barrick waived its back-in right on the Eskay Creek project. As previously announced, consideration for the transaction consists of: the issuance by Skeena of 22,500,000 units , with each Unit [...]
Barrick Gold Corp. said today it accepted the Antofagasta Environmental Court’s decision to uphold the closure order and sanctions Chile’s environmental regulator imposed on Compa??a Minera Nevada, the Barrick subsidiary that holds the Chilean portion of the Pascua-Lama project. Barrick said the ruling drew a line under a legal process that started in 2013 and the company would not appeal it. Construction was suspended [...]
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