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.
Toronto Mining News
The gold miner has given up on Kumtor and decided to focus its efforts on completing a deal for Armenia-based Kapan Mining instead
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.
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.
Company won’t have to cut output at its central BC-based copper-gold mine, at least for now, as it has been granted approval to use certain short-term water sources.
The Central Asia-focused explorer and developer said Tulkubash’s measured and indicated resource is now over 1.4 million ounces of gold, while the grade also rose 57% to 1.35g/t gold.
Junior continues to pursue $800-million acquisition of Centerra Gold's Kumtor mine in Kyrgyzstan.
Extension of the deadline, the fifth one so far this year, seeks reaching final agreement that would end long-running dispute over the country’s largest gold mine.
Fresh setback for the company’s Solwara 1 project, expected to be the world’s first seabed gold, copper, silver mine.
The parliament’s revision of the strategic agreement, set for September, may lead to increased environmental payments for the Canadian miner.
Deadline for fulfillment of all conditions included in agreement with the Kyrgyz government, which would end all disputes over the firm’s Kumtor gold mine, has been pushed back about a month.
Country alleges a court decision had slammed the door on certain investment arbitration cases involving European Union members, so Gabriel’s case can’t be solved that way any longer.
Prime Minister said he would submit tom parliament his own 'proposals' over a settlement reached last year, which would end long-dragged disputes between the company and the country over Kumtor gold mine.
Project is expected to extend Fort Knox mine life to 2030 and generate 17% internal rate of return (IRR) at a low capital cost.
Company is seeking $4.4 billion in compensation for alleged losses related to its Rosia Montana gold and silver project, which Bucharest halted following relentless protests.
It’s rumoured that Sapar Isakov's charges may put a pact ending long-dragged disputes between the Asian country and the Canadian miner in jeopardy.
The miner is receiving an upfront cash payment of $155 million for AuRico Metals’ royalty portfolio and about $45 million payable in four tranches for Kemess's silver output.
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.
The $38-million investment will give Barrick an almost 20%-stake in Midas Gold.
The proposed acquisition means Chaarat would own Kumtor and will have control over management and operations of the mine.
Bringing the project to production is expected to take about four years, but Donlin gold project is still has a long way to go in the permitting process before construction and operations can begin.
Kyrgyzaltyn has yet to see an offer by Chaarat Gold Holdings to acquire Kumtor mine, which is the Central Asian nation’s largest gold operation.
Project is located about 100 km south of Jwaneng, the world’s richest diamond mine.
Centerra and Kyrgyzstan have had a series of disputes over sharing profits from Kumtor, and London-listed Chaarat was offering the nation to increase its stake in the project’s cash flow in the three-way deal.
Barrick Gold Corp reported a slightly better than expected increase in first-quarter adjusted profit on Monday.