The planned merger, which creates the world's top gold miner by value and output, has been approved by the Royal Court of Jersey.
Barrick Gold Mining News
The Toronto-based company, which already owns 15% of Reunion, said the fresh $2.27-million investment leaves its stake in the Quebec-based miner unchanged.
Shares of ATAC Resources plunged 25% on news that Barrick Gold is terminating its earn-in joint venture on the junior’s Orion project.
Premier Gold Mines of Thunder Bay, Ont., has provided an update on development at the South Arturo joint venture in the Carlin Trend.
Incoming CEO Mark Bristow has announced his intention to offload non-core assets and research and development company AuTec is one of them.
La Mancha is a private gold company with investments in Toronto-listed Endeavour Mining, Australia's Evolution Mining and Ghana-focused Golden Star Resources.
Richard Williams who served as Barrick’s chief of staff and later chief operating officer was assigned in February to work full-time on securing a deal between the Tanzanian government and Acacia Mining Plc.
The giant also said it wants "more exposure" in Canada.
Under the agreement, Premier Gold can acquire a 100% stake in the 206-hectare Rodeo Creek land package.
Bristow, who will be CEO of the merged firm, did not give specifics about what that mediation would involve, but said he would be acting in his capacity as Randgold's chief executive not as the head of Barrick.
Experts believe the US firm could achieve $300 million in operating and cost savings from combining its mines in Nevada with those of the Canadian rival.
The Zaldívar copper mine in Chile, a joint venture between Antofagasta and Barrick, will be able to replace greenhouse gas emissions equivalent to 350,000 tonnes per year, or about 87,000 vehicles annually.
The market may see the wave of consolidation we’ve been waiting for - Michael Siperco, analyst at Macquarie Capital Markets.
Randgold plans to sweeten its 2018 dividend by 35%, to $2.69 per share from $2, and pay it before the merger closes.
While Kibali has been a crowning achievement for Randgold, it’s set to challenge Mark Bristow's trouble-shooting skills even before he takes over as CEO of the enlarged company.
The combined miner plans to focus on Tier 1 assets, those producing at least 500,000 ounces of gold annually, with a mine life of more than 10 years and low costs.
Q3 sees lower profit due to lower prices for gold and copper alongside higher fuel costs.
BMO Capital Markets has flagged a total of 13 mines that could be sold following the $6-billion merger.
The company has set up a representative office in Machala, capital of Ecuador's El Oro province, historically a gold-producing region, and will use this as a base to participate in South American projects.
The company is also seeking direct talks with the country's government, as it's been excluded so far from negotiations between controlling shareholder, Barrick Gold, and President John Magufuli.
Mining companies operating in Zambia will still meet their operational costs even after the government imposes higher taxes.
The news comes barely a week after the company said another worker had been released on bail after being charged with corruption.
The operation was put on hold in 2013 due to environmental issues, political opposition, labor unrest and development costs that ballooned to $8.5 billion.
Shareholders of Barrick and Randgold will vote on Nov. 5 on an all-stock transaction that will create a company with operations in Africa, Australia, North and South America, Saudi Arabia and Papua New Guinea.
Barrick Gold Corporation announced today that it has filed its management information circular and related voting materials in connection with a special meeting of shareholders to be held on November 5, 2018.