Incoming CEO Mark Bristow has announced his intention to offload non-core assets and research and development company AuTec is one of them.
Randgold Resources Mining News
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.
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.
Barrick Gold shareholders "overwhelmingly" approved its all-stock acquisition of Africa-focused Randgold Resources.
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 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.
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.
No final decision has been made, and it’s also not clear whether all three of Acacia’s Tanzanian gold mines will be brought back into Barrick.
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.
Chief Executive Officer Gary Goldberg said while not interested in the entire companies, he would interested in buying Barrick’s half of their shared Kalgoorlie mine in Australia, which Newmont operates.
Randgold's founder Mark Bristow has been a thorn in the side of Barrick Gold Corp. Now he’s its closest partner.
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.
Negotiations between management, workers, community leaders and the government created an agreement under which workers are being re-employed in phases.
As a result of the latest stoppage at the Ivory Coast mine and the time it will take to bring it back on line and at full tilt, Randgold will have to review its 290,000-ounce gold output forecast for the year.
DRC's Kibali is moving from underground mining by contractors to owner-mining, as has already happened at the company’s Loulo mines in Mali.
Labour action has brought gold production to a halt.
After six months of lobbying, companies including Glencore and Randgold Resources have got nowhere in their battle to push back against a new mining law that voids existing agreements and increases their costs.
Congo's prime minister wants to immediately implement the new mining code without any concessions to industry demands that key provisions be amended.
Company said new technology will help the DRC mine achieve its 2018 production guidance of 730,000 ounces, despite challenges posed by the country's new mining code.
The strike at the company’s Loulo and Gounkoto mines is related to the payment of bonuses and will continue until the issue is resolved.
Recurrent industrial action by the workforce of a subcontractor it's jeopardizing Tongon's 290,000-ounce production forecast.