Gold.com Stock Price, News & Analysis

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.

The Porgera gold mine in Papua New Guinea is set to resume operations later this year following a partnership agreement between the PNG government and Barrick Niugini Limited. This agreement establishes a joint venture with 51% ownership for PNG stakeholders and 49% for Barrick. Key aspects include sharing economic benefits at a 53/47% rate, Barrick financing the restart, and increased equity for local landowners. The Prime Minister deemed this historic for PNG, setting a precedent for future projects. Full mine operations will commence once definitive agreements are signed.

Barrick will publish its Q1 2021 results on May 5, 2021, with President and CEO Mark Bristow hosting a virtual presentation at 11:00 EDT. Preliminary production, sales, and cost data will be released on April 15, 2021. The results webinar will be available for later viewing, and a conference call will follow the presentation. Access details for the call are provided for US, Canada, UK, and international participants. Presentation materials will be accessible on Barrick’s website.

Barrick Gold Corporation (NYSE:GOLD) announced discussions with the Papua New Guinea government regarding the reopening of the Porgera mine, which has been inactive since April 2020. A framework agreement is being negotiated for a joint venture, ensuring increased local ownership and fair economic benefits. Barrick Niugini Limited will remain the mine operator. The company anticipates a final agreement soon, which would mark a significant step towards resuming operations at Porgera.

Barrick Gold Corporation (NYSE:GOLD) reports significant progress towards becoming the world's most valued gold company, following its merger with Randgold Resources. In 2020, Barrick capitalized on rising gold prices, achieving strong production, and ending the year with zero net debt. The company increased its quarterly dividend three-fold since the merger and plans to return $750 million to shareholders. With a solid $5.2 billion in cash and a $3 billion credit facility, Barrick's governance focuses on sustainability and diversity, including a commitment to achieve at least 30% female representation on its board by 2022.

Barrick Gold (NYSE:GOLD) has announced a new project at the Golden Sunlight mine in Montana, aiming to generate 75 jobs and tens of millions in tax revenue over the next decade. This initiative involves reprocessing tailings to extract sulfur, which will be sold to Nevada Gold Mines, enhancing revenue streams. The project will also mitigate potential groundwater pollution, aligning with Barrick’s sustainability goals. The mine, which produced over 3 million ounces of gold before its closure in 2019, is currently undergoing an environmental review process.

Barrick Gold Corporation (NYSE:GOLD) is focusing on enhancing its leadership through youth and diversity, as reported in its 2020 Annual Report. Executive chairman John Thornton emphasizes that a diverse team will drive innovation and strengthen stakeholder relations. The company adopts an ownership-based compensation model, aligning employee interests with shareholders. Thornton noted that Barrick has emerged stronger from previous challenges and continues its goal of being the world’s most valued gold company, supported by 5- and 10-year strategic plans aimed at achieving future objectives.