Company said the output decline was a consequence of a week-long strike at the Mali operation.
Barrick Mining News
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.
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 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.
Michael Brown, currently President, Barrick U.S.A., will be retiring from the Company on December 31, 2018.
Incoming CEO Mark Bristow has announced his intention to offload non-core assets and research and development company AuTec is one of them.
Acacia has three operating mines in Tanzania and is engaged in a protracted and ugly disagreement over taxation with the government.
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 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.
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.
Nevada gold mines keep "rocking the boat."
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.
The state miner warned it would "assert its rights" in Barrick Gold's acquisition of Rangold's stake in the Kibali mine, but did not provide details of its plans.
The new Barrick, which will be listed in New York and Toronto, will own five of the world's 10 lowest cost gold mines and will be the world's top bullion producer by both value and output.
Blockchain technology and the smart contracts it enables are the next innovations the mining industry needs to adopt in order to improve efficiencies and increase market transparency, a paper published by global law firm White & Case says.
Chief Innovation Officer role on the chopping block.
Kelvin Dushnisky, who leaves Acacia and its parent company Barrick, assumes as South Africa’s AngloGold Ashanti (JSE:ANG) new boss next week.
Barrick's plan going forward includes increasing its portfolio of so-called tier 1 assets over time, and gradually shedding anything that’s not tier 1 or deemed to be “strategic.”
Dushnisky will join AngloGold in September, ending the search to replace Srinivasan Venkatakrishnan, who left the world’s third-biggest gold miner in April to run India’s Vedanta.
Alicanto Minerals will retain 100% of Arakaka gold project.
Converting the power plant that feeds the Pueblo Viejo mine from heavy fuel oil to natural gas is expected to reduce the operation’s average cost of sales and all-in sustaining costs by about $54 per ounce.