Rumours come a year after the gold miner vowed to spend $640 million to extend the life of Lagunas Norte, worth about $1.4 billion according to industry experts.
Barrick Gold Corporation Mining News
The country's mining regulator will have to issue a new temporary closure plan for the project, including comments from other government offices.
The company is focusing on assets with the potential to add as much as 1.1 million ounces of gold to its total output beyond 2021.
But lower all-in sustaining costs mitigated the impact of decreased production, preliminary full-year figures show.
Executive Chairman John L. Thornton discusses company’s new global employee share plan.
The gold producer said the region will play an increasingly important role in its growth strategy.
The sales of Kalgoorlie and Barrick's 63% interest in Acacia would provide well in excess of $2 billion.
Barrick and NOVAGOLD announce the appointment of Andy Cole as General Manager of the Donlin Gold Project in Alaska
Barrick Gold Corporation (Barrick) and NOVAGOLD RESOURCES INC. (NOVAGOLD), the owners of Donlin Gold LLC, are pleased to announce the appointment of Andy Cole as General Manager of the Donlin Gold project in Alaska.
The potential sale of a 50% stake in Veladero mine could fetch Barrick more than $1 billion, sources familiar with the matter say.
The miner said it didn't expect the18-day suspension to have a significant impact on its 2016 operating guidance for Veladero.
The incident happened on Sep. 8, when a pipe carrying process solution in the heap leach area was struck by a large block of ice that had rolled down the heap leach valley slope, Barrick said.
George Bee will assume as vice president of the Argentine side of the project effective Sep. 12.
Mr. Hill brings added technical experience to the investment review process at Barrick, complementing the economic and financial expertise of Chief Financial Officer Catherine Raw.
Most of them have been after existing operations and companies, rather than trying to build mines from scratch.
Reporting to Executive Vice President and Chief Financial Officer Catherine Raw, Mr. Oh will lead Barrick's Investor Relations team, and will serve as a central point of contact for investor engagement on governance.
Early signs of activity include Kinross Gold's March decision to expand its Mauritanian gold mine and Goldcorp acquisition of junior Kaminak for $520 million in May.
Barrick Gold has reduced its debt load, reshuffle management and sold several assets.
The world's largest gold producer, reported a quarterly loss, compared with a year-earlier profit, as asset sales impacted production and realized gold prices fell.
Most shareholders hope that Catherine Raw persuades management to stop prizing output over profitability and, instead, place more emphasis on investors’ returns.
Net profit for 2015 dropped by almost 30% to $261 million (1.7 billion yuan) from the previous year's $353 million.
He will receive $3.4 million for his work in 2015, including compensations and pension, a significant reduction from the almost $13 million he pocketed in 2014.
Class action claims that Barrick repeatedly and knowingly misled shareholders about whether Pascua-Lama complied with environmental regulations.
Analysts believe that Barrick’s partner in Papua New Guinea, Zijin Mining Group, could be the one to help turn Pascua-Lama into a success.
Plutonic is the highest-cost of Northern Star's five mines, producing around 79,000 ounces last financial year at an all-in sustaining cost of $1550 an ounce.
The asset writedown is primarily related to two Latin American assets — Pascua Lama project, on the border of Chile and Argentina and Pueblo Viejo, in Dominican Republic.