The Canadian gold giant confirmed it has reviewed the opportunity to merge with the US miner in an all-share deal.
Barrick Gold Mining News
The gold giant said it would approach the board of Acacia Mining to back the formal proposal that would settle a long-running dispute with the Tanzanian government.
The companies announced their planned all-share tie-up in January, just two weeks after the Barrick-Randgold merger was finalized.
The company pinned the cost increases partly on mining ending at its low-cost Cortez Hills open pit in Nevada in the first half of the year.
Executives, investors and government officials meet in Cape Town this week at the African Mining Indaba, the continent’s biggest gathering of one of its most essential industries.
Executives, investors and government officials met in Cape Town at the African Mining Indaba, the continent’s biggest gathering of one of its most essential industries.
Strategic alliance expands Barrick’s exploration footprint in the Guiana Shield, a significantly under-explored region and one of the most prospective in the world for large scale gold discoveries.
Company said the output decline was a consequence of a week-long strike at the Mali operation.
While company denied media reports that it had sold Lumwana, it said that given the challenging conditions the mine was facing in Zambia, all options would have to be considered.
“The question becomes now, will there be a domino effect?”
Massive deal creates company that challenges rival Barrick as the world’s largest gold producer.
The company's new boss Mark Bristow beleives that Chile is a “great” destination for miners, despite Barrick’s difficulties advancing the massive Pascua-Lama project.
Barrick’s Acacia Mining has been hit with a 300-million Tanzanian shillings fine (about $129,144) over allegations of environmental breaches at its North Mara mine.
“Without a doubt, this industry needs transformation,” Mark Bristow, the new chief executive officer of Barrick Gold said.
Barrick now trades as GOLD in New York and continues as ABX in Toronto.
The planned merger, which creates the world's top gold miner by value and output, has been approved by the Royal Court of Jersey.
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.