Category: Gold

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) announced today that the Porgera mine in Papua New Guinea (PNG) is set to resume operations later this month and is expected to start pouring gold again in the first quarter of 2024.  This follows the satisfaction of the conditions to the Porgera Project Commencement Agreement, in which a new ownership structure was agreed. Barrick president and chief executive Mark Bristow said the reopening of the mine represented another victory for the company’s host-country partnership model which had been very successful in Tanzania and had also… Read More Here

The US Bureau of Land Management has issued a Record of Decision (“ROD”) approving Nevada Gold Mines’ (“NGM”) plan of operations for its new Goldrush underground mine at the Cortez Complex near Beowawe, Nevada. The long-life mine is expected to start ramping up production in 2024 after the commissioning of the initial project infrastructure and is forecast to produce 130,000 ounces in 2024 and grow to approximately 400,000 ounces per annum by 2028 (100% basis)1. Barrick and NGM have invested more than $370 million in the project to date and… Read More Here

The North Mara Gold Mine has been crowned Employer of the Year at the prestigious 2023 Association of Tanzania Employers (ATE) Awards ceremony. North Mara is operated by Barrick and is jointly owned with the Tanzanian Government through Twiga Minerals Corporation. The distinguished event, held at the Mlimani City Conference Centre in Dar es Salaam, was graced by Honourable Joyce Ndalichako, Minister of State (Prime Minister’s Office) for Labour, Youth, Employment, and Persons with Disabilities. Twiga achieved a resounding triumph by not only securing the top honour as the Employer… Read More Here

The Copper Mark, Mining Association of Canada, ICMM and the World Gold Council has announced their intention to work together to consolidate their respective responsible mining standards into one single standard. Barrick supports this initiative and has been an advocate of this consolidation for many years. “Having one standard for responsible mining will not only provide clear direction on what good should look like but would reduce the complexity that exists with the numerous standards currently in circulation,” said Barrick president and chief executive Mark Bristow. “It is also crucial… Read More Here

Mali has announced a significant milestone in its economic partnership with Russia, revealing plans to construct a gold refinery in the capital city, Bamako. The deal, part of several bilateral agreements between the two nations, outlines the establishment of a refinery boasting an impressive 200-tonne annual capacity, positioning it as the largest of its kind in West Africa. The memorandum of understanding (MoU), while non-binding, signifies a promising collaboration between Bamako and Moscow. However, no specific timeline has been set for the refinery’s construction despite the four-year term outlined in… Read More Here

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) announced that on November 10, 2023, it purchased 7,000,000 warrants to purchase common shares of Hercules Silver Corp. (“Hercules”) for total consideration of C$6,580,000. The warrants were immediately exercised at their exercise price of C$0.11 per Hercules common share. Prior to its acquisition and exercise of the warrants, Barrick owned 26,556,870 common shares of Hercules and 6,804,918 warrants, representing approximately 12.33% of the outstanding Hercules common shares on a non-diluted basis, and 15.02% on a partially-diluted basis. Barrick now owns 33,556,870 common shares and 6,804,918… Read More Here