Gold.com Stock Price, News & Analysis

Barrick Gold Corporation (NYSE:GOLD) has reaffirmed its commitment to the Reko Diq copper-gold project in Pakistan, highlighting its strategic importance. Following an agreement with the Pakistani government, the project, on hold since 2011, will be reconstituted with Barrick owning 50%. A feasibility study update is planned, followed by construction expected to commence with initial production by 2027/2028. The project aims to create significant employment and economic benefits for local communities, with no financial burden on the Balochistan province for its 25% ownership stake.

Barrick Gold Corporation (NYSE:GOLD) announced preliminary Q2 2022 results, achieving 1.04 million ounces of gold and 113 million pounds of copper sales and production. The average gold price was $1,871 per ounce, while copper averaged $4.32 per pound. Despite strong overall production, Q2 copper prices are expected to be 13-15% lower due to market fluctuations. Costs for gold production are also anticipated to rise slightly. The company will release full Q2 results on August 8, 2022.

Barrick Gold Corporation (NYSE:GOLD) has been recognized as the largest contributor to Tanzania's government revenue in 2021. Since acquiring the North Mara and Bulyanhulu mines in September 2019, Barrick has invested $1.995 billion in-country and paid $158 million in taxes and royalties in the first half of 2022. The company aims to achieve Tier One status for these mines, projecting annual production of 500,000 ounces of gold. Barrick's operations employ 96% Tanzanian nationals and contribute to various community development projects, including healthcare and education.

Barrick Gold Corporation (NYSE:GOLD) will release its Q2 2022 results on August 8, 2022. A virtual presentation led by CEO Mark Bristow is scheduled for 11:00 EDT, coinciding with an interactive webinar and conference call. Preliminary production, sales, and cost details for Q2 2022 will be disclosed on July 14, 2022, at 7:00 EDT. The Q2 results will be available on Barrick’s website, with the presentation materials accessible post-event.

Barrick Gold Corporation's Kibali gold mine in the Democratic Republic of Congo has surpassed a $4 billion investment, significantly boosting the local economy and enhancing infrastructure. CEO Mark Bristow highlighted that 94% of the workforce are Congolese, with a focus on advancing women in mining. Kibali is on track for production goals and has demonstrated sustainability through hydropower stations that lower its carbon footprint. The mine's reserves have grown for three consecutive years, and ongoing exploration presents new opportunities for growth.

Barrick Gold Corporation (NYSE:GOLD) announced significant developments at its Loulo-Gounkoto complex in Mali on July 2, 2022. The company has invested $337 million into the Malian economy so far this year, contributing a total of $8.5 billion since inception. Key projects include the commissioning of new mines, reserve replacement, and community initiatives like a motel and an agricultural college. Barrick is on track to meet its production guidance for 2022 while maintaining a strong safety record with no lost-time injuries reported.

Barrick Gold Corporation announced the sale of 5,382,587 shares of Perpetua Resources Corp. for C$21,729,504, averaging C$4.04 per share. Prior to the sale, Barrick owned 8.5% of Perpetua's shares. Post-disposition, Barrick no longer holds any shares of Perpetua. This sale was part of Barrick's investment portfolio management strategy. The company indicated that it may acquire or dispose of Perpetua resources in the future, depending on market conditions.

Barrick Gold Corporation (NYSE:GOLD) announced a commitment to invest $6 for every ounce of gold sold from its Tanzanian mines to enhance local healthcare, education, infrastructure, and water access. Additionally, it has earmarked $70 million for national projects, including mining-related training and road improvements. This investment aligns with the company's framework agreement with the Tanzanian government, which includes a 50/50 profit-sharing in their Twiga joint venture. Barrick has paid over $1.9 billion in local taxes and salaries during the past two years.