Barrick Mining (B) Stock News, May-Jul 2025

Barrick Mining Corporation (NYSE:B) is advancing its $2 billion Super Pit Expansion Project at the Lumwana mine in Zambia, transforming it into a Tier One copper mine. The expansion will double copper production to 240,000 tonnes annually, supported by a 50 million tonne per annum processing plant.

Since 2019, Lumwana has contributed over $4 billion to Zambia's economy through taxes, royalties, procurement, and wages, with 79% ($3.4 billion) spent with local suppliers. The project includes development of Manyama township, an industrial supplier park, and a new regional airstrip. The mine employs 98% Zambian nationals and is implementing a REDD+ forest conservation program covering 300,000 hectares.

The operation is tracking well against its 2025 production guidance, with strong Q1 performance driven by increased plant throughput and improved open-pit efficiency.

Barrick Mining Corporation (NYSE:B) celebrates five years of its Twiga partnership with the Tanzanian government, demonstrating significant achievements in sustainable mining development. The company has injected $4.79 billion into Tanzania's economy, including $558 million in H1 2025.

Key operational highlights include over 90% procurement from Tanzanian suppliers and a 96% Tanzanian workforce. The partnership launched a $30 million Future Forward education programme with the government, expanding school infrastructure to accommodate 45,000 additional pupils. Both Bulyanhulu and North Mara mines are performing as planned, with significant infrastructure improvements and exploration activities targeting resource extensions.

Barrick Mining (NYSE:B) reports significant progress at Kibali, Africa's largest gold mine, with promising drilling results from the ARK-KCD corridor indicating potential for substantial reserve growth. The mine has surpassed $6.3 billion in DRC investment, including $3.1 billion to local contractors.

Operational highlights include the completion of a 16MW solar plant with Battery Energy Storage System, pushing renewable energy usage to 85%. The mine operates on 100% renewable energy for six months annually. The company is also advancing biodiversity initiatives, planning to introduce 64 additional white rhinos to Garamba National Park.

Community development continues with 41 of 44 projects completed through the 0.3% development fund, while $4.8 million has been invested in Cahier des Charges execution. The mine supports over 700 Congolese companies through procurement and capacity-building initiatives.

Barrick Mining Corporation is facing significant challenges in Mali as the Bamako Commercial Tribunal has placed its Loulo-Gounkoto complex under temporary provisional administration. The company has initiated arbitration through the International Centre for Settlement of Investment Disputes (ICSID) following the Malian government's actions to block gold exports and seize gold stocks. Several Barrick employees remain detained without clear justification. While Barrick maintains legal ownership of the mine, operational control has been transferred to an external administrator. Despite making good faith concessions, Barrick emphasizes it cannot accept terms that would compromise operational viability. The company, which has been operating in Mali for nearly 30 years, remains open to dialogue with the government while pursuing legal remedies through ICSID arbitration to protect its rights under binding Mining Conventions.

Barrick Mining Corporation (NYSE:B) has successfully completed the sale of its 50% stake in the Donlin Gold Project, located in Alaska, to Paulson Advisers LLC and NOVAGOLD Resources Inc. The transaction, valued at $1 billion in cash, marks a significant divestiture for Barrick. The Donlin Gold Project, which was previously jointly owned by Barrick and NOVAGOLD, represents one of North America's largest known undeveloped gold deposits.

Barrick Mining Corporation (NYSE:B) is facing a critical situation in Mali as the government attempts to take control of the Loulo-Gounkoto mining complex. A court ruling is expected on June 2 following Barrick's opposition to the government's request for provisional administration. The conflict includes the unlawful detention of Barrick employees for over five months and the blockage of gold exports from the complex. Despite these challenges, Barrick continues to support its workforce by maintaining wage payments. The company has initiated international arbitration proceedings while seeking dialogue with Mali's government, emphasizing its three-decade presence in the country and significant contributions to Mali's economy. Barrick maintains that the government's actions violate both Malian law and existing agreements, undermining the partnership principles between governments and long-term investors.

Barrick Mining Corporation (NYSE:B) has published its 2024 Sustainability Report titled "Beyond the Horizon," showcasing its commitment to the UN's Sustainable Development Goals 2030. Since its 2019 merger, Barrick has distributed over $100 billion in economic value across host countries and invested $200 million through Community Development Committees. The company maintains 97% local employment and spent $7.1 billion with local suppliers in 2024. Barrick has updated its greenhouse gas emissions reduction roadmap while maintaining its Net Zero by 2050 commitment. The company has implemented a new site-level SDG performance framework to track development indicators such as clean water, education, and healthcare. Environmental achievements include 85% water reuse/recycling and ongoing renewable energy investments in Pakistan, Argentina, and the DRC.

Barrick Mining Corporation (NYSE:B, TSX:ABX) has begun trading under the new single-letter ticker symbol 'B' on the New York Stock Exchange. To mark this milestone, CEO Mark Bristow rang The Opening Bell® at the NYSE. The company maintains its 'ABX' symbol on the Toronto Stock Exchange.

As a leading global gold and copper mining company, Barrick operates six Tier One gold mines and is expanding its copper operations. The company's strategy combines the stability of gold with copper's growth potential, positioning itself to benefit from increasing global electrification and infrastructure demand. Key development projects include the Pueblo Viejo expansion, Fourmile gold project in Nevada, and the Reko Diq project featuring both copper and gold deposits.