Gold.com Stock Price, News & Analysis

Barrick Gold (NYSE:GOLD) announced that its Kibali gold mine in the Democratic Republic of Congo (DRC) is set to maintain its annual production rate of 750,000 ounces for over 15 years. The mine, Africa's largest, leverages advanced automation and renewable energy, with three hydropower stations and an upcoming solar power plant increasing its renewable energy mix to 85% by next year. Kibali has fostered significant regional growth, turning a once underdeveloped area into a thriving commercial hub with a population of over 500,000. Barrick has invested heavily in local communities, spending nearly $2.7 billion on local contractors and suppliers since 2010. Additionally, the company is committed to biodiversity, partnering to reintroduce white rhinos to the DRC and supporting local agriculture through a coffee project. Barrick expresses readiness to pursue new gold and copper opportunities in the DRC, contingent on continued government cooperation.

Barrick Gold and Zijin Mining Group have announced a $1 million contribution to aid communities in Papua New Guinea's Enga province following a devastating landslide in Mulitaka, which claimed approximately 600 lives. The aid includes monetary and in-kind contributions, with the Porgera gold mine providing additional support such as manpower, relief supplies, and construction equipment. Barrick's efforts are coordinated with various international and national bodies to streamline relief and recovery operations. The mine has also sourced containers for relief supplies and is evaluating the use of radar for monitoring the affected area.

Barrick Gold (NYSE:GOLD) announced in its 2023 Sustainability Report that almost $12 billion in economic value generated from its mines remained in the operating countries. The report highlights Barrick's commitment to sustainable development, aligning with the UN's Sustainable Development Goals. In 2023, 97% of Barrick’s employees were host country nationals, and $43 million was invested in Community Development Committees for various local initiatives. Safety improvements were noted with a 21% reduction in Lost Time Injury Frequency Rate and a 33% decrease in malaria incidence. Barrick achieved its 2025 target for reducing greenhouse gas emissions by 15%, already surpassing it with a 16% reduction from the 2018 baseline. The company also recycled 84% of its water usage and continues to focus on biodiversity conservation, exemplified by the successful reintroduction of white rhinos in the Democratic Republic of Congo.

Barrick Gold announces an exploration partnership with Geophysx Jamaica, granting Barrick access to 4,000 square kilometers of land in Jamaica. The agreement allows Barrick to earn up to an 80% joint-venture interest in designated properties. Geophysx Jamaica is a leading mineral exploration company committed to responsible exploration. The partnership aims to leverage Geophysx's expertise and Barrick's resources to accelerate the discovery of new resources in Jamaica.

Barrick Gold reported its Q1 results showing steady gold and copper production growth to meet full year targets. Despite lower production due to delays and maintenance, the company's financials saw a significant increase in net earnings and operating cash flow. Barrick is progressing major organic growth projects and maintaining a strong focus on exploration, sustainability, and value delivery. The company remains on track to achieve its 2024 targets, with a positive outlook for its copper projects and sustainable energy initiatives.

Barrick Gold (NYSE:GOLD)(TSX:ABX) has declared a dividend of $0.10 per share for Q1 2024, in line with its Performance Dividend Policy. The dividend will be paid on June 17, 2024, to shareholders of record on May 31, 2024. This decision reflects the company's strong balance sheet and global asset base, ensuring continued shareholder returns and business growth.

Barrick Gold announced the election of directors at the 2024 Annual Meeting of Shareholders. Voting results for directors, auditors, executive compensation, and shareholder proposal were provided. Notable victories include Mark Bristow, Isela A. Costantini, and Andrew J. Quinn. The investor and media relations contact information is also available.