Category: Gold

The World Gold Council’s latest Gold Demand Trends report reveals that annual gold demand (excluding OTC) in 2022 increased by 18% year-on-year, hitting 4,741t – the highest annual total since 2011. Boosted by a record fourth quarter, demand for gold was propelled by hefty centralbank-buying and persistently strong retail investment. Annual central bank demand more than doubled to 1,136 t in 2022, up from 450 t the year before and to a new 55-year record high. Purchases in Q4 2022 alone reached 417 t, bringing the total for the second… Read More Here

Seventeen years after it went into production, Barrick’s Loulo-Gounkoto mining complex in Mali continues to demonstrate its value as a key socio-economic partner to the country. In 2022 it maintained its historically consistent performance by meeting its production guidance and solidified its long-term outlook and is expected to replace its mined ounces for the fourth successive year. The initial development of a third underground mine at Gounkoto was commissioned and is on track to start ore production from stopping in the second quarter of this year. Key geological structures within… Read More Here

Barrick’s two gold mines in Tanzania, North Mara and Bulyanhulu, boosted their combined output to 547,0001 ounces in 2022, achieving another step towards their potential Tier One2 status in the group’s asset portfolio as a combined complex. At the same time, exploration is continuing to deliver opportunities to grow the mineral reserves net of depletion at both mines. North Mara’s transition to owner-mining is successfully ramping up its ongoing open pit expansion with improved efficiencies and costs, while technological advances in the underground operation are increasing productivity. The restart of mining at… Read More Here

Barrick Gold Corporation Chief Executive Officer Mark Bristow has urged all PNG parties involved in the Porgera Mine Mine reopening negotiations to complete the process by the end of the first quarter. Barrick CEO Mark Bristow recently visited Papua New Guinea as part of his regular visits to the company’s mines. During his trip, he met with government officials and community leaders in Port Moresby and Porgera. He also expressed his disappointment with the ongoing delay in reopening the Porgera mine, which has been closed for nearly three years, and… Read More Here

Barrick Gold Corporation has reported preliminary full year and fourth quarter 2022 production results. On the back of stronger Q4 production, 13% higher than the previous quarter, preliminary gold production for the full year of 4.14 Moz was approximately 1% lower than the 4.2 Moz previously guided, while preliminary copper production of 440 million pounds for 2022 was in line with the guidance range of 420 to 470 million pounds. The preliminary Q4 results show sales of 1.11 Moz of gold and 99 million pounds of copper, as well as… Read More Here