Stock loses a fifth of its value on Tuesday.
African Barrick Gold Mining News
Shares in London-listed African Barrick Gold (LON:ABG) were falling by over 4% on Friday after rising costs and dipping production impacted the miner’s Q3 profit.
African Barrick Gold (LON:ABG) has decided to pay the Tanzanian government an extra 1% in royalties, in light of the current gold price environment.
African Barrick Gold plc (ABG), one of the largest gold producers in Africa said it expects to increase gold production by about 300,000 ounces a year in the next two years.
African Barrick Gold (LON:ABG) shares rose 6% today as the miner announced its board has approved a $185 million expansion at Bulyanhulu, its underground gold mine in Tanzania.
London-listed African Barrick Gold (LON:ABG) reported increasing confidence in its Nyanzaga project, in Tanzania and said that the project has the potential to become its next mine in the country.
Barrick Gold Corp. (TSX:ABX), the world’s biggest gold miner, announced that profit slipped in the fourth quarter as the company booked US$153-million in various after-tax charges tied to redundant power assets and its investment portfolio.