Gold.com Stock Price, News & Analysis

Barrick Gold Corporation (NYSE:GOLD) announced its Q2 2021 results, reporting net earnings of $411 million and adjusted earnings of $513 million. Despite a 5% decline in gold production to 1,041,000 ounces, the company remains on track to meet its annual guidance. Key projects include the commissioning of the Phase 6 heap leach facility at Veladero and the completion of the third shaft at Turquoise Ridge. The firm declared a quarterly dividend of $0.09 per share, alongside a second $250 million capital return tranche. With a cash balance over $5 billion, Barrick is positioned for future growth.

Barrick Gold Corporation (NYSE:GOLD) announced a $250 million tranche of its $750 million return of capital distribution, set to be paid on September 15, 2021. This amount, approximately $0.14 per share, follows the previous $250 million distribution made in June. Additionally, a $0.09 per share dividend for Q2 will be paid on the same date. Shareholders of record by August 31, 2021, will receive these distributions. The final $250 million tranche is scheduled for distribution in November 2021, contingent on shareholder approval and company performance.

Barrick Gold Corporation (NYSE:GOLD) announced strategic environmental and social impact assessments for a new tailings storage facility at Pueblo Viejo, requiring an initial investment of $1.3 billion. This project aims to extend the mine's life to beyond 2040, ensuring annual production of over 800,000 ounces. The initiative follows extensive community engagement and aims to comply with environmental standards. Barrick expects over $9 billion in economic contributions to the Dominican Republic from this project, reaffirming its commitment to responsible mining and community development.

Barrick Gold has secured four exploration licenses for 19 blocks in Egypt's Eastern Desert, following the International Bid-Round (1)/2020. This region is part of the Arabian Nubian Shield, known for significant gold deposits. Barrick's strategy involves collaborating with the Egyptian Mineral Resource Authority to finalize an exploitation license agreement. The company's expansion into Egypt aligns with its aim to explore underdeveloped mineral areas globally. Additionally, Barrick has increased its portfolio with new properties in Tanzania, Guyana, Japan, and Nevada.

Barrick Gold clarifies a Reuters article suggesting that the company exports products through Durban port, following a cyber attack that disrupted operations. The statement highlighted could mislead readers into believing that Barrick exports gold or other products from this port in South Africa. The company emphasizes that this is not the case, reaffirming its operational details to avoid confusion. Barrick operates mainly in regions like the Democratic Republic of Congo and Zambia, where other miners like Glencore are active.

Barrick Gold Corporation (NYSE:GOLD) announced preliminary Q2 2021 results with gold sales of 1.07 million ounces and copper sales of 96 million pounds. Gold production totaled 1.04 million ounces, impacted by maintenance shutdowns at Nevada Gold Mines and mechanical issues at Goldstrike. The average market price for gold was $1,816 per ounce, while copper averaged $4.40 per pound. Production forecasts for the second half of 2021 remain positive, although costs for both gold and copper are projected to rise by 2-8% and 14-22% respectively, compared to Q1.

Barrick Gold Corporation (NYSE:GOLD) announced that significant exploration successes at the Tongon gold mine in Côte d'Ivoire could extend its operational life. CEO Mark Bristow highlighted promising results from near-mine exploration and noted that the mine's Nielle mining license has been filed for a 10-year extension. Tongon declared a $150 million dividend for Q2 2021 and has invested $1.77 billion in the local economy. The mine is known for its profitability and safety.

Barrick's Kibali gold mine continues to meet production targets for 2021, with an aggressive exploration program replacing reserves faster than they are mined. The mine has contributed $3.6 billion to the Democratic Republic of Congo's economy, with local businesses receiving $73.8 million this year. Kibali is prioritizing local employment, with 94% of its 5,341 employees being Congolese. The mine also focuses on health, safety, and environmental protection, including clean energy use and reforestation efforts. Barrick maintains strong government partnerships and aims for sustainable growth in the region.

Barrick will announce its Q2 2021 results on August 9, 2021, with a virtual presentation by President and CEO Mark Bristow at 11:00 EDT. Preliminary production, sales, and cost data will be released on July 15, 2021. The Q2 results will be available at 6:00 EDT on the same day, and can be accessed through a webinar at 11:00 EDT. The conference call linked to the webinar will also be available for listeners. Presentation materials will be accessible on Barrick's website, ensuring investors are kept informed.