ABX - Barrick Gold Corporation

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  • GlobeNewswire2 days ago

    Barrick Looks To The Future In Côte D’Ivoire

    TONGON, Côte d’Ivoire, July 19, 2019 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (GOLD) (ABX.TO) is actively seeking to extend the life of its Tongon gold mine while at the same time exploring new opportunities elsewhere in Côte d’Ivoire, president and chief executive Mark Bristow said here today. Speaking at a briefing for local media visiting the mine, Bristow noted that Tongon was now in its 10th year of operations while its developer Randgold Resources, since merged with Barrick, had been involved in Côte d’Ivoire for more than 20 years, spending in excess of $90 million (CFA 52 billion) on exploration alone during that time.

  • Financial Times2 days ago

    Barrick Gold’s raised offer backed by Acacia board

    Barrick Gold has raised an offer that would give it full control of Acacia Mining, bowing to minority shareholders as it tries to resolve a tax dispute with the Tanzanian government. The higher offer, ...

  • GlobeNewswire3 days ago

    Barrick Reports Preliminary Second Quarter Production Results

    Barrick Gold Corporation (GOLD)(ABX.TO) announced today that it continues to make good progress on achieving its goals and objectives set out at the start of the year. Reflecting another solid operating performance across its portfolio, Barrick announced preliminary second quarter sales of 1.37 million ounces of gold and 96 million pounds of copper, as well as preliminary second quarter production of 1.35 million ounces of gold and 97 million pounds of copper. The average market price for gold in the second quarter was $1,309 per ounce, while the average market price for copper in the second quarter was $2.77 per pound.

  • Financial Times4 days ago

    Tanzania increases pressure on Acacia with tailings ban

    Tanzania has stepped up the pressure on gold miner Acacia Mining, ordering it to stop using a waste storage facility at its largest gold mine by Saturday, an act that could cripple operations. The order by Tanzanian’s National Environment Management Council comes just days after Acacia was told its North Mara mine had to be investigated before it could export gold. It also comes before a Friday deadline for Acacia’s majority shareholder Barrick Gold to make a final offer for the London-listed company, after a preliminary bid in May was strongly rejected by Acacia’s minority shareholders.

  • GlobeNewswire5 days ago

    Kibali Marks A Decade Of Value Creation In The DRC

    The Kibali gold mine remains on track at the year’s halfway point to meet or beat its production forecast of 750,000 ounces for 2019, says Mark Bristow, president and chief executive of operator and co-owner Barrick Gold Corporation. Speaking at a briefing for local media here today, Bristow said this year marked the 10th anniversary of the acquisition of the Moto project which since then has been developed into one of the largest gold mines in the world, contributing $2.7 billion to the Congolese economy in the process. It is also now a full year since Kibali became the owner-operator of its underground mine, which ranks as one of the most advanced in the global industry in terms of automation.  The system is currently being developed to the next technological level, where it will allow manned and unmanned operations within the same area.

  • GlobeNewswire6 days ago

    Barrick Announces Reko Diq Arbitration Award

    Barrick Gold Corporation (GOLD)(ABX.TO) (“Barrick” or the “Company”) today announced that the World Bank International Centre for Settlement of Investment Disputes (“ICSID”) has awarded $5.84 billion in damages to Tethyan Copper Company Pty Limited (“TCC”), a joint venture held equally by Barrick and Antofagasta plc, in relation to the arbitration claims filed against the Islamic Republic of Pakistan following the unlawful denial of a mining lease for the Reko Diq project in Pakistan in 2011. Damages include compensation of $4.087 billion in relation to the fair market value of the Reko Diq project at the time the mining lease was denied, and interest until the date of the award of $1.753 billion.  Compound interest continues to apply at a rate of US Prime +1% per annum until the award is paid.

  • Financial Times9 days ago

    Tanzania to inspect Acacia’s main gold mine as Barrick deadline looms

    Acacia Mining says the Tanzanian government will conduct an inspection of its main gold mine in the country, in a sign of increasing government pressure on the gold miner as it faces an imminent takeover by Canada’s Barrick Gold. The London-listed miner said it had been informed by Tanzania’s Ministry of Minerals that it would “soon conduct an inspection” of its North Mara gold mine before it issues export permits. The inspection is the latest sign of trouble for Acacia in Tanzania, following a ban on some of its gold exports two years ago by the government following charges it had not paid billions of dollars in taxes.

  • GlobeNewswire10 days ago

    Second Quarter 2019 Results Release on August 12 — Preliminary Second Quarter Production Results on July 18

    TORONTO, July 11, 2019 -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) will release its Second Quarter 2019 Results on Monday August 12, 2019.  President and CEO.

  • Financial Times11 days ago

    Hedge fund Odey sharpens pressure on Barrick to lift offer for Acacia

    London hedge fund Odey Asset Management has increased the pressure on Barrick Gold to raise its offer for Acacia Mining, saying it would reject any offer that is not higher than 271p a share. Barrick, which is led by Mark Bristow, wants to buy the 36.1 per cent of Acacia it does not already own so that it can end a damaging stand-off with the government of Tanzania over unpaid taxes. Regulators have agreed to extend the bidding deadline until July 19, Acacia said on Tuesday.

  • Financial Times11 days ago

    Barrick Gold fires new salvo in buyout battle for Acacia

    The improved results announced earlier this week by Acacia Mining are unsustainable, according to its majority shareholder Barrick Gold, which is trying to buyout the shares in the company it does not already own in an increasingly bitter takeover battle. Barrick said the 51 per cent increase in second quarter production revealed by Acacia on Monday was down to developing a very high-grade part of an underground mine at its flagship North Mara asset in Tanzania.

  • ACCESSWIRE11 days ago

    Barrick Gold Corporation Announces Further Update Concerning Acacia Mining

    TORONTO, ON / ACCESSWIRE / July 10, 2019 / Barrick Gold Corporation (GOLD) (ABX.TO) ("Barrick" or the "Company") today provides the following further update in relation to Acacia Mining plc ("Acacia"). Barrick has continued to discuss the proposal to acquire all of the Acacia shares it does not already own through a share for share exchange of 0.153 Barrick shares for each ordinary share of 10 pence each in Acacia (the "Proposal") with the Independent Directors and the Chief Executive Officer of Acacia (the "Acacia Transaction Committee").

  • GlobeNewswire12 days ago

    Further Update Concerning Acacia Mining plc (“Acacia”)

    Barrick Gold Corporation (GOLD) (ABX.TO) (“Barrick” or the “Company”) today provides the following further update in relation to Acacia Mining plc (“Acacia”). Barrick has continued to discuss the proposal to acquire all of the Acacia shares it does not already own through a share for share exchange of 0.153 Barrick shares for each ordinary share of 10 pence each in Acacia (the “Proposal”) with the Independent Directors and the Chief Executive Officer of Acacia (the “Acacia Transaction Committee”).

  • Financial Times12 days ago

    Barrick given extra time to make formal bid for Acacia

    Canada’s Barrick Gold has been given an extra 10 days to make a formal buyout offer for London-listed Acacia Mining, which is holding out for a higher bid. Barrick, which is led by Mark Bristow, wants to buy the 36.1 per cent of Acacia it does not already own so that it can end a damaging stand-off with the government of Tanzania over unpaid taxes.

  • Financial Times13 days ago

    Acacia announces production increase ahead of bid deadline

    Ahead of Tuesday’s bidding deadline, Acacia Mining has announced a big increase in production thanks to a strong performance at its flagship asset in Tanzania. The London-listed miner said output rose 51 per cent to almost 159,000 ounces of gold in the three months to June, up from 105,000, boosted by a record breaking performance from its North Mara mine. It churned out 119,000 ounces of gold in the quarter and set a monthly production record of nearly 48,000 ounces in June.

  • Barrons.com18 days ago

    Newmont Goldcorp and Barrick Gold’s Joint Venture Works for Both Rivals, Analyst Says

    Newmont Goldcorp and Barrick Gold’s decision to team up on a mining joint venture in Nevada may turn out to be the best thing either company has going for it at the moment.

  • Benzinga18 days ago

    BMO Resumes Coverage On Gold Stocks: Bullish On Barrick, Neutral On Newmont

    Andrew Kaip resumed coverage of Barrick Gold and upgraded the stock from Market Perform to Outperform with a price target lifted from $14.50 to $20. Barrick's Nevada joint venture with Newmont should unlock value for Barrick, Kaip said in the Wednesday upgrade note.

  • GlobeNewswire20 days ago

    Nevada Gold Mines Launched: Best Assets, Best People Will Deliver Best Value

    Barrick Gold Corporation (GOLD) (ABX.TO) and Newmont Goldcorp Corporation (NEM) (TSX:NGT) have successfully concluded the transaction establishing Nevada Gold Mines LLC.  The new company, owned 61.5% and operated by Barrick, and owned 38.5% by Newmont Goldcorp, was officially launched today.

  • Why Trump and Powell will send gold prices skyrocketing
    Yahoo Finance25 days ago

    Why Trump and Powell will send gold prices skyrocketing

    The impressive run in gold prices may just be getting started.

  • UPDATE 1-Barrick stands firm, saying Acacia's mine plans need changes
    Reuters25 days ago

    UPDATE 1-Barrick stands firm, saying Acacia's mine plans need changes

    Barrick Gold Corp on Wednesday stuck to its offer to buy out Acacia Mining, saying assumptions made by the smaller firm about its mine plans were out of touch and changes were indeed needed. Acacia said majority shareholder Barrick's proposal undervalued its mine plans and appears to have ignored the value of its exploration and development assets. Barrick, the world's second largest gold miner, had valued Acacia's assets at $1.3 billion in its 2018 annual report but said last week that following a review it concluded some of Acacia's assumptions about its assets were not supportable.

  • GlobeNewswire25 days ago

    Response to Acacia’s announcement

    Further to its announcement dated June 19, 2019 (“the Barrick Announcement”), Barrick Gold Corporation (GOLD) (ABX.TO) (“Barrick” or the “Company”) today provides the following response to the announcement made by Acacia Mining plc (“Acacia”) on June 24, 2019 headed “Response to announcement from Barrick regarding the situation in Tanzania and Acacia’s mine plans” (“the Acacia Announcement”).

  • ACCESSWIRE25 days ago

    Barrick Gold Corporation - Response to Acacia's Announcement

    TORONTO / ACCESSWIRE / June 26, 2019 / Further to its announcement dated 19 June 2019 ("the Barrick Announcement"), Barrick Gold Corporation (GOLD) (ABX.TO) ("Barrick" or the "Company") today provides the following response to the announcement made by Acacia Mining plc ("Acacia") on 24 June 2019 headed "Response to announcement from Barrick regarding the situation in Tanzania and Acacia's mine plans" ("the Acacia Announcement").

  • Perth Mint ETF makes NYSE debut as gold hits a six-year high
    Yahoo Finance Video3 days ago

    Perth Mint ETF makes NYSE debut as gold hits a six-year high

    Perth Mint Physical Gold ETF (AAAU) launched on the NYSE this week. Richard Hayes, the Perth Mint CEO, joins Seana Smith on 'The Ticker' to discuss the investment opportunities in gold.