Category: Gold

Barrick Gold is preparing to sell its last remaining Canadian mine, aiming to take advantage of record-high gold prices and renewed investor interest in North American mining assets. According to sources familiar with the matter, the company initiated the sale process for its Hemlo gold mine in Ontario in April and has engaged Canadian Imperial Bank of Commerce (CIBC) to identify potential buyers and manage the bidding process. Neither Barrick nor CIBC has commented publicly on the matter. If completed, the sale would mark Barrick’s full exit from mining operations… Read More Here

Canada-headquartered Barrick Gold has issued a stern warning to the government of Mali, stating that the future of its flagship Loulo-Gounkoto gold mine is in jeopardy due to a worsening standoff over taxes and regulatory actions. In a statement released on Wednesday, the Toronto-based gold miner accused a “small group of individuals” within Mali’s government of blocking a fully negotiated agreement—reached in February with the Ministry of Finance—for political or personal reasons. Despite Barrick already paying $85 million last year as part of ongoing negotiations, the agreement remains unsigned. “The… Read More Here

Barrick Gold Corp., the world’s second-largest gold producer and listed on the New York Stock Exchange under the ticker “GOLD,” is signaling a major strategic shift — one that leans heavily into copper. The Canadian mining giant has proposed changing its name to Barrick Mining Corp., dropping “Gold” from its title in a move that underscores its growing focus on copper and its diversification beyond its traditional bullion roots. Barrick is currently investing $6 billion into developing a massive copper project in Pakistan, set to launch in 2028 and operate… Read More Here

Barrick Gold (NYSE: GOLD, TSX: ABX) announced on Friday that it is advancing a series of growth projects aimed at boosting gold-equivalent production by 30% by the end of the decade. Chairman John Thornton noted that despite a challenging global operating environment, Barrick met its 2024 gold and copper production targets, sustained its record of reserve replacement, and significantly expanded its resource base. “We improved our financial performance despite higher costs,” Thornton said in a statement. “Net earnings rose 69% — the highest in a decade — while operating cash… Read More Here

Mali anticipates a slight rebound in industrial gold production in 2025, assuming Barrick Gold resumes operations following a prolonged dispute with the government, according to a document from the country’s mines ministry seen by Reuters on Wednesday. Gold production is projected to reach 54.7 metric tons in 2025, up from 51.7 tons in 2024, which marked a 23% decline from previous years. As one of Africa’s leading gold producers, Mali hosts around 15 operational gold mines, primarily owned by Barrick Gold, B2Gold, Resolute Mining, Endeavour Mining, and Hummingbird Resources. Barrick… Read More Here