Gold.com Stock Price, News & Analysis

Barrick Gold Corporation (NYSE:GOLD) has significantly enhanced its gold mineral reserves, replacing depletion by 150% in 2021, according to its annual report. Proven and probable reserves now total 69 million ounces at a grade of 1.71g/t, up from 68 million ounces at 1.66g/t in 2020. Key contributions came from North America and Africa, with notable increases from the Goldrush underground project and the North Mara mine. Additionally, attributable gold resources rose to 160 million ounces. The optimal integration of geological studies and mining strategies is driving these improvements.

Barrick Gold Corporation (NYSE:GOLD) announced its North Mara and Bulyanhulu mines produced over 500,000 ounces of gold in 2021, meeting criteria for Tier One status. North Mara is set to integrate the Nyabirama and Nyabigena pits, enhancing production capabilities. Bulyanhulu has established itself as a low-cost, long-life operation. The company acquired six new licenses around Bulyanhulu and invested $6.7 million in community projects. Vaccination efforts have reached 26.45% partially and 20.25% fully, with local employment at 96%.

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.

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.