Former Barrick Gold chief executive Jamie Sokalsky has been appointed a director and the next non-executive chairman of junior gold explorer Probe Mines Ltd.
Barrick Gold Corporation Mining News
The Toronto-based firm has shown president and CEO Jamie Sokalsky the door two years into the job, and less than three months after a breakdown in merger talks with its largest rival.
The appeal follows a confusing ruling in March this year that revoked the penalty, the largest ever imposed in the country, only to force the country's environmental watchdog to rewrite it.
World's top gold miner reaches an initial agreement with Chile’s Diaguita community, the indigenous group that first blocked the $8.5 billion project.
Barrick Gold Class Action – Robertson Stromberg LLP Files Statement of Claim Against Barrick Gold and Other Defendants
The detailed claim alleges there were misrepresentations in Barrick's public disclosure relating to Barrick's development of the Pascua-Lama mine located on the border between Chile and Argentina.
The lawsuit alleges Barrick knew or should have known that it would have to overcome significant obstacles with its $8.5bn Pascua-Lamas gold-silver project.
Adjusted net earnings totalled $238 million or $0.20 per share, a dramatic drop from the $923 million or $0.92 per share logged last year.
The new gold giant would have a market value of $33 billion, operations on five continents, and a gold output of well over 12 million ounces a year.
Far from being good news, the resolution orders Chile's environmental watchdog to charge Barrick for each and every of the 22 violations found in the project, instead of grouping them into five categories as it did the first time.
Net loss for the entire year climbed up to a monster $10.37 billion.
But it also recommends an exhaustive review of the permit issued in 2006, as well as the miner’s glacier monitoring plan.
Argentine authorities are requesting a meeting with incoming President of Chile, Michelle Bachelet, who takes office in March.
Among the top three North American gold miners —Barrick, Goldcorp and Newmont— the former made the strongest gains in the past month.
New mining listings in the Toronto Stock Exchange and its junior counterpart, the TSX-V, continue to dive.
For US$22 million.
Thornton brings finance background and strong China connections, while James Gowans, former chief of the diamond giant's Canada unit brings mining experience.
John Thornton has strong connections to Asia, particularly China.
Had workers on strike, they would have affected the construction a the water management system, which is the main condition imposed by Chilean authorities to allow Barrick restart work at the mine.
One of Canada’s most important entrepreneurs, Barrick Gold’s founder and chairman Peter Munk is turning 86 today, at a time of major challenges for his company and the industry.
Delivering its Q3 results, the debt-laden gold miner said it is temporarily suspending all construction activity at its $8.5 billion Pascua-Lama project.
The miner faces extra-costs caused by unusual factors, such as venomous snakes, shellfish traps and submerged fence posts by its Lake Cowal gold mine in Australia.
Pascua Lama's union to vote whether to accept Barrick's wage offer this week.
Ruling leaves the door open for new lawsuits against the Toronto-based miner.
Company lawyer asks Chilean court to ratify its July verdict, when it officially halted all operations in the project.
The South American nation is home to 30% of the world's known copper reserves.