Gold.com Stock Price, News & Analysis

Barrick Gold (NYSE:GOLD) has demonstrated significant economic impact in Zambia through its Lumwana Mine operations. The company contributed $3.7 billion since 2019, with $887 million in 2024 alone through various economic channels. The mine achieved its copper production guidance in 2024, with 72% of its $906 million procurement spend going to Zambian suppliers.

A major expansion project is underway at Lumwana, which will double copper production to 240kt annually and create 2,500 construction jobs through 2028, plus 550 permanent positions. The project includes developing Manyama town with new housing, an industrial supplier park, and an airport expected to be operational by 2025.

Currently maintaining 99% Zambian national employment, Barrick is expanding its training facilities and implementing a Business Accelerator Programme targeting 150 SMEs. The company is also addressing power challenges through co-generation initiatives and collaborating with ZESCO to upgrade the northwestern power corridor.

Barrick Gold (NYSE:GOLD) has contributed significantly to Tanzania's economy through its Twiga joint venture, injecting over $4.24 billion since 2019, including $888 million in 2024 alone. The partnership, comprising North Mara and Bulyanhulu gold mines, achieved notable milestones in local economic development and community support.

Key achievements include $573 million spent on national suppliers (83% of total in-country spend), with 75% going to indigenous companies. The company maintains a 96% national workforce of 6,185 employees, with 53% from neighboring communities. Community investments totaled $5 million in 2024, reaching $15.8 million since 2019.

Both mines exceeded production guidance of 500,000 ounces in 2024, maintaining Tier One status, and achieved a full year without Lost-Time Injury. The Barrick Academy, launched in 2024, has trained 1,700 individuals, targeting 2,800 by 2025. The company expanded its exploration footprint by over 2,000km² in the Nzega District.

Barrick Gold (NYSE:GOLD)(TSX:ABX) has announced the upcoming release of its Q4 2024 results on Wednesday, February 12, 2025. The company will host a comprehensive presentation of the results, featuring President and CEO Mark Bristow, at 11:00 EST.

The event will include an interactive webinar connected to a conference call, allowing participants to engage in a Q&A session. The results will be released at 6:00 EST, with the presentation following at 11:00 EST. The webinar will be archived for later viewing, and a conference call replay will be available through dedicated toll-free and international numbers.

All presentation materials will be accessible on Barrick's website at www.barrick.com.

Barrick Gold (NYSE:GOLD) has announced that its gold shipping restrictions at the Loulo-Gounkoto mining complex in Mali continue to be in effect. The situation has escalated as the Malian government has executed an interim attachment order, transferring existing gold stock from the site to a custodial bank, further preventing gold shipment and sales.

In response to these developments, Barrick has been forced to temporarily suspend operations at the complex. The company states it remains committed to engaging constructively with the Malian government and stakeholders to find an amicable solution that would ensure the long-term sustainability of the mining complex and its contributions to Mali's economy and communities.

Barrick Gold (NYSE:GOLD)(TSX:ABX) has received notice of an unsolicited mini-tender offer from TRC Capital Investment to purchase up to 5,000,000 of Barrick's common shares at C$21.35 per share, which is approximately 0.29% of Barrick's outstanding shares.

Barrick does not endorse this unsolicited offer and recommends shareholders do not tender their shares to TRC Capital's offer, as it is below market price. The offer price represents a discount of approximately 4.52% and 4.38% to the closing prices on the Toronto Stock Exchange and New York Stock Exchange, respectively, on January 7, 2025.

TRC Capital has made similar unsolicited mini-tender offers for other companies. Mini-tender offers avoid investor protections required by Canadian and U.S. securities laws. The Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) advise caution with such offers. The SEC has issued tips for investors regarding mini-tender offers, which can be found on their website. The CSA's guidance on mini-tenders is available on the Ontario Securities Commission website.

Barrick shareholders are urged to obtain current market quotations, consult with their broker or financial advisor, and exercise caution. Shareholders who have already tendered their shares can withdraw them before 11:59 p.m. (Toronto time) on February 6, 2025, by following the procedures in TRC Capital's offer documents.

Barrick Gold (NYSE:GOLD) faces significant operational challenges at its Loulo-Gounkoto mining complex in Mali. The company remains restricted from shipping gold, and a new interim attachment order prevents export of existing gold stock on site. CEO Mark Bristow warns that if the situation isn't resolved within a week, they may need to temporarily suspend operations, affecting 8,000 employees and local service providers.

The company has initiated arbitration through the International Centre for Settlement of Investment Disputes (ICSID) while pursuing negotiations with Mali's government for a memorandum of agreement. The situation is further complicated by the detention of several Malian employees on charges Barrick considers unfounded. Despite these challenges, Barrick emphasizes its commitment to Mali, where it has operated for nearly three decades, and seeks a resolution that would increase the State's share of benefits from the mining complex.

Barrick Gold (NYSE:GOLD) has initiated arbitration proceedings through its Mali operating entities at the International Centre for Settlement of Investment Disputes (ICSID). The arbitration concerns disagreements regarding the Loulo-Gounkoto complex operations in Mali.

The company is pursuing resolution through arbitration mechanisms provided under the Somilo and Gounkoto Mining Conventions with Mali. CEO Mark Bristow emphasized Barrick's 30-year commitment to Mali and expressed openness to dialogue with the government for amicable resolution while the arbitration process continues.

Barrick Gold (NYSE:GOLD) reports unsuccessful negotiations with Mali's government regarding disputes over the Loulo-Gounkoto complex, despite previous framework agreements. The situation has deteriorated with employee imprisonments and blocked gold shipments, potentially leading to operational suspension.

Over 29 years, Barrick has invested $10 billion in Mali, contributing 5-10% to the country's GDP annually. In 2023, Barrick contributed over $1 billion to Mali's economy. The complex employs 8,000 workers, with 97% being Malian nationals. The government, holding 20% ownership, has received over 70% of economic benefits.

Since November 25, several senior Malian management members have been imprisoned on unfounded charges, with reported illegitimate arrest warrants against Barrick's CEO. The company remains open to constructive engagement while protecting operational viability.

Quaise Energy and Nevada Gold Mines (NGM) are partnering to explore the decarbonization of NGM's TS Power Plant using deep geothermal energy. The project aims to hybridize on-site power generation, following NGM's recent completion of a 200-megawatt solar power plant. This marks the first commercial pilot for retrofitting a fossil fuel power plant with geothermal heat, supporting NGM's target of 30% reduction in GHG emissions by 2030. The partnership demonstrates deep geothermal's potential to compete with fossil fuels by producing up to 10x more power per well than traditional geothermal methods.