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 (NYSE:GOLD) reported strong third-quarter results for 2021, with attributable gold production of 1.09 million ounces and a year-to-date total of 3.23 million ounces. Notably, copper production reached 100 million pounds for the quarter. The company achieved a net earnings per share of 20 cents and adjusted net earnings per share of 24 cents. Operating cash flow totaled $1,050 million, while free cash flow stood at $481 million. Barrick's capital return to shareholders is set to hit a record approximately $1.4 billion in 2021, including a sustainable quarterly dividend of 9 cents per share.
Barrick Gold Corporation (NYSE:GOLD) announced a third tranche of $250 million in return of capital distribution, amounting to $0.14 per share, scheduled for December 15, 2021. This payment complements a $0.09 per share dividend for Q3, also payable on December 15, 2021, benefiting shareholders of record by November 30, 2021. This distribution forms part of a total $750 million approved by shareholders earlier this year, contributing to a record cash return of approximately $1.4 billion in 2021.
Barrick Gold Corporation (NYSE:GOLD) appointed Hongyu Cai as an independent director, enhancing its Board with her extensive finance and investment experience. A graduate of MIT, Ms. Cai has nearly 20 years of experience, having worked at Goldman Sachs and CICC, where she excelled in equity research and led significant M&A projects. Chairman John Thornton highlighted her expertise in equity markets and corporate finance, anticipating that her insights will bolster Barrick's strategic interests, particularly in China, a major player in gold production and consumption.
Nevada Gold Mines (NGM), the largest gold mining complex in the world, showcases the effectiveness of Barrick’s strategy, according to CEO Mark Bristow. NGM's strengths lie in the consolidation of valuable assets, exemplified by projects like Turquoise Ridge and Goldrush, which promise significant future production. Recent achievements include a successful Notice of Intent for the Goldrush project and enhanced processing efficiencies at Carlin, contributing to a positive outlook. NGM is also investing in infrastructure and sustainability, aiming to cut greenhouse gas emissions by 20% by 2025.
Barrick Gold Corporation announced an expansion project at its Pueblo Viejo mine in the Dominican Republic, aiming to extend its operational life to 2040 and beyond. CEO Mark Bristow highlighted the mine's significant contributions, including $522 million in taxes this year, totaling nearly $3 billion since 2013. With 97% of its workforce being local Dominicans, the mine supports economic growth and community programs. The project is projected to double its economic impact, emphasizing sustainable development and environmental management.
Barrick Gold Corporation, led by CEO Mark Bristow, has established a trust fund for community development projects in San Juan, Argentina, with an initial commitment of 1.5% of Veladero mine sales, estimated at $138 million. This initiative aims to enhance local living conditions and create jobs, supported by a $140 million investment in the new Phase 7 leach facility, anticipated to generate 640 jobs. The project aligns with Barrick's sustainability goals, including connecting Veladero to Chile’s power grid to reduce emissions. Barrick is also exploring new resources for the Pascua-Lama project.
Nevada Gold Mines (operated by Barrick Gold) has finalized an asset exchange with i-80 Gold Corp., acquiring a 40% interest in the South Arturo Joint Venture and a low-cost option on the adjacent Rodeo Creek exploration property. This will be in exchange for the Lone Tree and Buffalo Mountain properties, which are currently inactive. The transaction strengthens NGM's position in the gold mining sector as it consolidates its asset portfolio.
Barrick Gold Corporation (NYSE:GOLD) announced preliminary Q3 2021 results, reporting sales of 1.07 million ounces of gold and 101 million pounds of copper. Gold production reached 1.09 million ounces, with production expected to peak in Q4 due to mill repairs. The Q3 average gold price was $1,790 per ounce, and copper $4.25 per pound. Q3 costs per ounce are estimated to rise by 2%, while all-in sustaining costs are projected to decrease by up to 6%. A detailed report will follow on November 4, 2021.
Barrick Gold Corporation reported strong performance at its Tanzanian mines, North Mara and Bulyanhulu, confirming they are on track to meet 2021 production targets. The Bulyanhulu mine saw an 11% increase in tonnage, aided by new automated loaders and drills, along with a new photon assay laboratory enhancing mineral analysis. North Mara is set to commission a brine treatment plant soon, contributing to environmental improvements. Barrick invests significantly in local economies, with 73% of spending directed at Tanzanian companies. The company also emphasizes community development and COVID-19 vaccination efforts among its workforce.
Barrick Gold Corporation (NYSE:GOLD) has launched Africa's first Chrysos PhotonAssay laboratory at its Bulyanhulu mine in Tanzania, in collaboration with MSALABS Ltd. This advanced technology allows for faster, safer, and more accurate analysis of gold and silver in just two minutes, greatly enhancing operational efficiency. The eco-friendly method significantly reduces CO2 emissions and hazardous waste compared to traditional fire assays. Barrick aims to leverage such innovations to improve operational excellence and environmental performance.