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) has published its 2020 'Communication on Progress' report for the United Nations Global Compact. The report highlights advances made towards the UNGC’s Ten Principles on human rights, environment, and anti-corruption. Key actions include a new greenhouse gas emissions reduction target of 30% by 2030, alignment of water reporting with ICMM standards, and establishment of community development committees at operational sites. Barrick has been a signatory to the UNGC since 2005, integrating its principles into corporate sustainability strategies.
Barrick Gold Corporation (NYSE:GOLD) announced the completion of the divestiture of its interest in the Lagunas Norte mine to Boroo Pte Ltd, based in Singapore. This move aligns with Barrick's strategy to streamline operations and focus on core assets. The transaction emphasizes Barrick's commitment to optimizing its portfolio and maintaining strong financial health.
Barrick Gold Corporation (NYSE:GOLD) reported a strong Q1 2021, with gold and copper production on track to meet annual guidance. Key highlights include:
- Net cash increased by $0.5 billion, supported by operating cash flow of $1.3 billion.
- Quarterly dividend of $0.09 per share and a $250 million return of capital distribution.
- Copper revenues rose 31% owing to higher prices.
- Significant exploration successes across multiple sites, including Kibali and Nevada Gold Mines.
The company is focused on long-term value, targeting sustainable growth.
Barrick Gold Corporation (NYSE:GOLD) announced a $250 million return of capital distribution, part of a total $750 million payout, to shareholders on June 15, 2021. Shareholders of record by May 28, 2021, will receive $0.14 per share. Additionally, a quarterly dividend of $0.09 per share will also be paid on the same date. This follows shareholder approval for the capital distribution. With dividends tripling since the Randgold merger in 2018, Barrick aims to provide significant returns to its shareholders in 2021, reflecting a strong commitment to shareholder value.
Barrick Gold Corporation (NYSE:GOLD) held its annual meeting on May 4, 2021, where a $750 million return of capital was overwhelmingly approved by over 99% of shares voted. This return will occur in three installments throughout 2021. Furthermore, more than 90% of shares supported the election of directors and executive compensation plans. Executive Chairman John Thornton emphasized the company's strong financial position, highlighting zero net debt and robust cash flows. Barrick aims to enhance its long-term growth strategy, particularly in ESG, receiving high scores from advisory reports on sustainability practices.
Barrick Gold Corporation (NYSE:GOLD) has referred a $208 million tax claim from the Senegalese Revenue Authority to the International Chamber of Commerce for arbitration after unsuccessful negotiations. The claim relates to taxes from Barrick's sale of its Massawa project interest to Teranga Gold. Barrick argues that the claim contradicts its investment agreement with Senegal. The arbitration process will begin once the SRA appoints its arbitrator, while Barrick continues to seek a resolution with the Senegalese government.
Barrick Gold Corporation's Loulo-Gounkoto gold complex has reached its first mining level in its third underground mine, set to deliver ore this quarter. A prefeasibility study has commenced for two additional mines, enhancing flexibility in mining sources. The complex produced 193,014 ounces of gold in Q1, on track for annual guidance of 640,000 to 700,000 ounces. A dividend of $80 million was paid to the joint venture board. The company has also improved COVID-19 testing capacities and continues to invest in local community development.
Barrick Gold's Kibali mine in the DRC produced 191,612 ounces of gold in Q1 2021, remaining on track to meet its annual target, according to CEO Mark Bristow. Key drivers included underground operations and increased plant throughput. Efficiency projects and improved energy generation from hydropower reduced costs, aligning with Barrick’s carbon reduction strategy. The mine also contributed $3.5 billion to the DRC economy since 2010. Looking forward, Kibali aims to expand resources and enhance open pit options while maintaining community development initiatives.
Barrick Gold Corporation (NYSE:GOLD) reported preliminary Q1 results, achieving gold sales of 1.09 million ounces and copper sales of 113 million pounds. Gold production was 1.10 million ounces, with copper at 93 million pounds. The average gold price was $1,794 per ounce, and copper averaged $3.86 per pound. Lower gold production attributed to mine sequencing and lower grades, while Q1 copper production dropped 22% from Q4 2020. The company expects stronger production in H2 2021 and will report detailed quarterly results on May 5, 2021.
Barrick Gold Corporation (NYSE:GOLD) announced significant advancements in its ESG strategy, including an updated greenhouse gas emissions reduction target of at least 30% by 2030, with an interim target of 15%. The company achieved zero Class 1 environmental incidents and a record water recycling rate of 79%. Barrick emphasizes that sustainability is integral to its business strategy, focusing on economic benefits, health and safety, human rights, and environmental impact minimization. All operational sites are ISO 14001:2015 certified, ensuring robust environmental management.