The boss of the world's top gold miner has bought 306,000 additional shares in the company.
Barrick Gold Mining News
The gold miner’s employees will receive this year 90 shares each, taking the total held by staff to more than 1.5 million shares.
Company’s goal remains to reduce total debt to around $5 billion by the end of 2018.
Rough year shuffles ranks of global gold mining giants as Freeport makes a comeback – 2018 forecasts point to another tumultuous year.
Miner is advancing a pipeline of projects expected to contribute more than 1 million ounces of annual production starting in 2021.
Barrick Gold’s Chief Innovation Officer, Michelle Ash, will become the new Chair of GMSG in May 2018.
Mineralized intercepts encountered higher grades than predicted by previous modeling, said the project owners NovaGold and Barrick.
Tanzania's top gold producer said in conversations with potential investors over a stake in some or all of its operations in the East African nation.
Barrick, the world's biggest gold producer, said it expects to produce between 4.5 million and 5 million ounces of gold this year.
Top listed copper producer Freeport jumped 7.4% and with Vale – up 6% – was among the NYSE's top 10 most actively traded stocks.
The miner has also scrapped its 2017 dividend after full-year core earnings fell by more than a third because of a ban on unprocessed mineral exports in Tanzania.
Even with rising gold prices and a strengthened balance sheet, the world’s largest gold producer left shareholders with the worst returns among its top North American peers last year.
$429 million impairment on the stalled project after Chile environment agency ordered final closure.
“Barrick is excited to host the state’s first global mining hackathon in Las Vegas,” said Michael Brown, President, Barrick USA.
Miner has spent $2 million to lock in the option to sell 120,000 ounces of future output at $1,320 an ounce, as it waits for Tanzania exports ban to end.
Proceeds from the private placement and financing will be used for exploration and development of the junior miner’s projects in Colombia and Nicaragua.
Agency also cut a 2013 fine for violations to $11.5 million (7 billion Chilean pesos) from the previous $16 million it had charged Barrick Gold, but later forced to review by an environmental court.
Only the Nevada operations of the Toronto-based gold mining giant increased output in 2017.
Past-producing Snip mine delivers again for Vancouver junior six months after acquiring property from Barrick Gold.
The world's biggest gold miner is staking new ground in a dogged push to overhaul its operations, seeking scarce artificial intelligence experts to oversee projects using technology for everything from exploration to robot-run mining.
The non-brokered private placement gives Barrick about 15% of Reunion Gold Corporation (TSX-V:RGD), which has interests in four different projects in South America’s North Atlantic coast.
The Tanzanian gold producer, majority owned by Barrick, has been locked in a months-long dispute with the local government.
Disappointed shareholders sink Barrick Gold shares 7.6% after $300m settlement with east African country over export ban is labelled a "downpayment".
World's number one gold producer swings to loss during third quarter.
Chief Financial Officer Andrew Wray said the company doesn't even have the ability to make the upfront $300 million payment Barrick has promised to the government of Tanzania as part of a deal reached Thursday.