Barrick Mining Corporation reports developments tied to its global gold and copper mining, exploration and development portfolio. Company news commonly covers operating and financial results, mine and project updates, technical and governance matters, and capital allocation actions for common shares that trade on the NYSE under B and on the TSX under ABX.
Recurring updates include quarterly results releases, dividend declarations, share repurchase authorizations, annual meeting materials and changes in executive or board oversight. Barrick also reports on its gold assets in North America and other mining jurisdictions, including disclosures connected to major mines, development projects, reserves, production, costs, cash flow and responsible mining obligations.
Barrick Gold Corporation reported a successful year for its Kibali gold mine, producing 812,152 ounces in 2021, within guidance and expecting to boost mineral reserves for the third consecutive year. The mine maintained its Tier One asset status, with no lost time injuries in Q4. Kibali focused on sustainability, investing $3.7 billion in the DRC and supporting local economies with $2.1 billion in local spending. A dividend of $200 million was distributed to shareholders. Looking ahead, underground drilling may unveil a new high-grade lode.
Barrick Gold Corporation (NYSE:GOLD) reported preliminary production results for 2021, achieving its annual guidance for the third consecutive year. Total gold production reached 4.44 million ounces, while preliminary copper production was 415 million pounds. In Q4 2021, gold production was 1.20 million ounces with an average gold price of $1,795 per ounce. The company anticipates Q4 gold costs to be lower than Q3 2021. Barrick will provide comprehensive results on February 16, 2022, which will include more detailed analysis of production, sales, and cost metrics.
Barrick will release its Q4 2021 results on February 16, 2022, with a presentation led by President and CEO Mark Bristow at 11:00 EST. An interactive webinar linked to a conference call will follow, allowing participants to ask questions.
Preliminary production, sales, and cost data for Q4 will be available on January 19, 2022. All materials will be accessible on Barrick's website after the event.
Barrick Gold Corporation (NYSE:GOLD) has announced the appointment of Christine Keener as the new chief operating officer for its North American region, effective February 2022. With a robust background in finance, strategy, and operations, Keener previously served as vice president at Alcoa, where she consistently improved results over 21 years. Her qualifications include an MBA from Carnegie Mellon University and public accounting experience at PricewaterhouseCoopers. CEO Mark Bristow emphasized her commitment to business outcomes and capability in identifying and executing improvement opportunities.
Barrick Gold Corporation (NYSE:GOLD) announced on December 29, 2021, that its North Mara mine successfully restored its tailings storage facility (TSF) pond to within permitted design capacity ahead of schedule. This achievement fulfills Barrick's commitment to the Tanzanian government made during its takeover in September 2019. Over $65 million was invested to enhance the water treatment facility's capacity from 2.5 to 40 million liters per day. This milestone underscores Barrick's commitment to international environmental standards and community welfare in Tanzania.
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Twiga Minerals Corporation, a joint venture between Barrick and the Government of Tanzania, has announced the acquisition of six prospecting licenses in Tanzania through its subsidiary, Bulyanhulu Gold Mine Limited. The total consideration for this acquisition is $6 million, with additional contingent payments based on gold mineral resources identified in the license areas. Bulyanhulu is required to invest at least $9 million in the area over four years. This strategic move aims to enhance Barrick's mineral reserves in Tanzania, supporting the company's growth initiatives.
On December 1, 2021, Barrick Gold Corporation (NYSE:GOLD) announced the third and final tranche of a $750 million return of capital distribution, paying $0.1405058 per share on December 15, 2021. This decision follows shareholder approval on May 4, 2021. The total cash return to shareholders for 2021 is projected at $1.4 billion, marking the highest annual payout in the company's history. Barrick's strong financial performance continues to support its commitment to shareholder returns while investing in future growth.
Barrick Gold Corporation (NYSE:GOLD) reported significant socio-economic contributions, totaling nearly $38 billion across 38 countries in the past year, as detailed in the World Gold Council's recent report. Barrick's contributions included $1.8 billion in taxes to host governments and $4.5 billion spent on local suppliers. The company's ability to foster local employment was highlighted, with 97% of its workforce being host country nationals. Additionally, Barrick committed over $30 million to Covid-related initiatives, demonstrating its ongoing community support amid the pandemic.
Barrick Gold Corporation (NYSE:GOLD) has been recognized in the Dow Jones Sustainability Index (DJSI) World Index for the 14th consecutive year, ranking in the top 5% of mining and metals companies. Barrick achieved a perfect score in environmental reporting, social reporting, and water risk management, and made significant improvements in health and safety and climate strategy. CEO Mark Bristow emphasized the company's dedication to sustainability and community partnerships, while acknowledging the ongoing need for enhancement in ESG performance.