ABX - Barrick Gold Corporation

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  • GlobeNewswire18 hours 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 Times4 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.

  • GlobeNewswire5 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 Times6 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 Times6 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.

  • ACCESSWIRE6 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").

  • GlobeNewswire7 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 Times7 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 Times8 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.

  • Financial Times9 days ago

    Legal and General oppose Barrick Gold’s buyout offer for Acacia

    Legal and General has signalled its opposition to Barrick Gold’s plans to buy out gold miner Acacia Mining, saying it raises “serious questions” about the treatment of minority shareholders. Barrick, which is led by Mark Bristow, wants to buy the 36.1 per cent of Acacia it does not already own to end a stand-off with the government of Tanzania over unpaid taxes. In May, when Barrick first made its proposal, it was pitched at an 8 per cent discount to Acacia’s share price.

  • Barrons.com13 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.

  • Benzinga13 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.

  • GlobeNewswire15 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 Finance20 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
    Reuters20 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.

  • GlobeNewswire20 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”).

  • ACCESSWIRE20 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").

  • ACCESSWIRE27 days ago

    Barrick Gold Corporation Announces Statement re. Acacia Mining plc - 19/06/2019

    TORONTO, CA / ACCESSWIRE / June 19, 2019 / Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) ("Barrick" or the "Company") today provides the following further update in relation to Acacia Mining plc ("Acacia"). Barrick notes the article by Bloomberg dated 18 June 2019 (the "Article") and confirms that it is proposing to engage intensively with Acacia's minority shareholders in coming weeks. As referred to in the Article, these discussions will be on the basis of the proposal set out in Barrick's announcement of 21 May (the "Proposal") and will provide an update on the situation in Tanzania and a review of Acacia's mine plans which together underpin Barrick's view that the Proposal represents fair value (as set out in full in Barrick's announcement of 18 June).

  • GlobeNewswire27 days ago

    Statement re. Acacia Mining plc

    Barrick Gold Corporation (GOLD) (ABX.TO) (“Barrick” or the “Company”) today provides the following further update in relation to Acacia Mining plc (“Acacia”). Barrick notes the article by Bloomberg dated 18 June 2019 (the “Article”) and confirms that it is proposing to engage intensively with Acacia’s minority shareholders in coming weeks. As referred to in the Article, these discussions will be on the basis of the proposal set out in Barrick’s announcement of 21 May (the “Proposal”) and will provide an update on the situation in Tanzania and a review of Acacia’s mine plans which together underpin Barrick’s view that the Proposal represents fair value (as set out in full in Barrick’s announcement of 18 June).

  • ACCESSWIRE27 days ago

    Barrick Gold Corporation Announces Statement re. Acacia Mining plc

    TORONTO / ACCESSWIRE / June 19, 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 notes the article by Bloomberg dated 18 June 2019 (the "Article") and confirms that it is proposing to engage intensively with Acacia's minority shareholders in coming weeks. As referred to in the Article, these discussions will be on the basis of the proposal set out in Barrick's announcement of 21 May (the "Proposal") and will provide an update on the situation in Tanzania and a review of Acacia's mine plans which together underpin Barrick's view that the Proposal represents fair value (as set out in full in Barrick's announcement of 18 June).