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Barrick Gold Corporation

Barrick is cashing in on gold’s record rally with asset sales – by Jacob Lorinc (Bloomberg News – April 23, 2025)

https://www.bnnbloomberg.ca/

For Barrick Gold Corp., one of the world’s top bullion producers, the precious metal’s blistering rally to record prices is looking like a great opportunity to raise some cash as the company looks to pivot harder into copper mining.

First, the company announced on Tuesday that it’s exiting an Alaskan mining project by selling its 50% stake to billionaire John Paulson and Novagold Resources Inc. for US$1 billion. Meanwhile, Barrick has also signalled more deals on the horizon as it seeks buyers for mines in Africa and North America.

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As Pakistan bets on a mining boom, can it equal Indonesia’s nickel success? – by Tom Hussain (South China Morning Post – April 26, 2025)

https://www.scmp.com/

A landmark deal unlocking vast copper and gold reserves has Pakistan eyeing a transformative economic shift

Pakistan is poised to join the ranks of the world’s top producers of critical metals by the end of the decade, thanks to an April 8 deal between the government and Canadian mining giant Barrick Gold.

Together, they aim to unlock the vast potential of Reko Diq, home to the world’s largest known untapped deposits of copper and gold with near-term production potential. Chinese firms are already on the ground, Saudi Arabia is on the verge of investing, and the United States is clamouring for access to Pakistan’s mineral wealth.

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Barrick exits Alaska with Donlin Gold sale – by Shane Lasley (North of 60 Mining News – April 22, 2025)

https://www.miningnewsnorth.com/

To sell its 50% stake in the 39-million-oz gold project to Paulson and Novagold for $1 billion.

After nearly two decades of exploration, engineering, and permitting, Barrick Gold Corp. has sold its 50% joint venture ownership of the world-class Donlin Gold project in Southwest Alaska to hedge fund billionaire John Paulson and Novagold Resources Inc. for $1 billion in cash.

“The Donlin agreement allows Barrick to exit the Donlin Gold Project at an attractive valuation, while allowing NOVAGOLD and Paulson to pursue the development of the project,” Barrick Gold President and CEO Mark Bristow said in an April 22 statement announcing the sale.

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Mali shuts Barrick office and issues threats to key mine in tax dispute – by Geoffrey York (Globe and Mail – April 15, 2025)

https://www.theglobeandmail.com/

Mali’s military junta has closed Barrick Gold Corp.’s national office and threatened to seize control of one of its biggest gold mines in a further escalation of a protracted tax dispute, the Toronto-based company says.

Barrick says it negotiated an agreement with the Malian regime in February to resolve the dispute, but the deal has been blocked by a small group of individuals for “personal or political reasons.” The company’s long-term future in the West African country is now at risk, it said.

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Barrick considering redomiciling to the U.S. and Trump could make it happen faster, says CEO Mark Bristow – by Niall McGee (Globe and Mail – February 14, 2025)

https://www.theglobeandmail.com/

Barrick Gold Corp. is considering redomiciling to the United States from Canada, and under a Donald Trump administration that could happen sooner rather than later, Barrick chief executive Mark Bristow told The Globe and Mail’s editorial board.

On Thursday, he mapped out several reasons why a move to the U.S. makes sense, including access to a more efficient marketplace, and the ability to attract a bigger pool of shareholders. Redomiciling to the U.S. could put Barrick in the S&P 500 index, which would attract automatic buying from scores of mutual funds and exchange traded funds that track indexes.

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Barrick CEO says he has ‘no doubt’ gold miner will resolve conflict in Mali – by Jordan Fleguel (Bloomberg News – February 12, 2025)

https://www.bnnbloomberg.ca/

The head of Barrick Gold Corp. says he’s confident that a resolution will be reached between his company and the Malian government, currently embroiled in a dispute over revenue distribution from one of the largest gold mines in Africa.

In an interview with BNN Bloomberg on Wednesday, Barrick’s CEO Mark Bristow said despite recent reports that talks between the company and Malian authorities had broken down, both sides continue to communicate with the aim of reaching an agreement.

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Barrick reports 23% increase in gold reserves in 2024 (Mining Technology – February 7, 2025)

https://www.mining-technology.com/

The increase is primarily attributed to the Reko Diq copper-gold project in the Chagai district of Balochistan, Pakistan.

Canadian miner Barrick Gold has reported a 23% increase in its overall proven and probable gold reserves, reaching 17.4 million ounces (moz) at the end of 2024. This rise is primarily attributed to the Reko Diq copper-gold project in the Chagai district of Balochistan, Pakistan.

The company’s attributable proven and probable gold reserves stood at 89moz at 0.99 grams per tonne (g/t) in 2024, up from 77moz at 1.65g/t in 2023. This year-on-year increase was driven by the conversion of Reko Diq’s copper-gold resources into mineral reserves, contributing 13moz of gold at a grade of 0.28g/t on an attributable basis, after the completion of the feasibility study.

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Mali seizes 3 tons of gold from Canadian company Barrick amid dispute over share of revenue – by Wilson McMakin and Baba Ahmed (Associated Press – January 13, 2025)

https://apnews.com/

DAKAR, Senegal (AP) — Mali’s military government has started seizing gold stocks of the Canadian mining company Barrick as part of a legal battle over the share of revenue owed to the West African state, according to an internal Barrick letter seen by The Associated Press.

The letter from CEO Mark Bristow to the Malian Mining Minister, dated Monday, says Barrick is “awaiting official confirmation of the proper receipt by the Malian Solidarity Bank,” a government entity. The seizure follows a warning letter to Barrick earlier this month from Mali’s senior investigating judge, Boubacar Moussa Diarra, saying three tons of gold would be seized.

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Mali starts seizing gold stocks at Barrick site, company memo says – by Fadimata Kontao and Portia Crowe (Reuters – January 13, 2025)

https://www.reuters.com/

BAMAKO/DAKAR Jan 13 (Reuters) – Mali’s government has begun enforcing a provisional order to seize gold stock at Barrick Gold’s Loulo-Gounkoto site, the Canadian miner said in a note to Malian staff, warning again that it may have to suspend operations at the complex.

The move suggests that Mali’s military-led authorities are not ready to back down in a standoff over a contract based on new mining rules as they push for a greater share of revenues from Western miners. “A provisional order to seize our existing gold stock was issued last week and the Malian government began its enforcement on Jan. 11,” Barrick said in the staff memo.

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Barrick mine in Mali could be forced to close within a week, company says – by Geoffrey York (Globe and Mail – January 6, 2025)

https://www.theglobeandmail.com/

Barrick Gold Corp. says it will be forced to shut down its operations in Mali within a week if the military junta continues to restrict its gold exports from the West African country.

The Toronto-based company disclosed on Monday that the regime had imposed yet another restriction on the company’s operations by issuing an interim attachment order on its existing gold stock at its Loulo-Gounkoto mining complex.

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Miners navigate high risks, ransoms in West Africa – by Trish Saywell (Northern Miner – December 16, 2024)

https://www.northernminer.com/

Mali’s military government is trying to arrest the CEO of the world’s second-largest gold company while the junta in Niger has tightened its stranglehold on a French state-owned uranium mine. African dictators are ratcheting up the risk for Western miners.

A combination of resource nationalism, coups and jihadist-linked terror is making West Africa an increasingly difficult region to navigate for Western mining companies. On Monday, Barrick Gold (TSX: ABX; NYSE: GOLD) warned that it will suspend operations at its Loulo-Gounkoto mine in Mali if shipments of gold remain blocked.

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Mali issues arrest warrant for Barrick CEO, reports say – by Geoffrey York and Niall McGee (Globe and Mail – December 6, 2024)

https://www.theglobeandmail.com/

Authorities in Mali have issued an arrest warrant for Barrick Gold Corp. chief executive officer Mark Bristow in a fresh escalation of a tax dispute in the West African country, Malian journalists have reported.

Copies of the arrest warrant, posted by one of the journalists on social media Thursday, show that Mr. Bristow is being charged with money laundering and violating Mali’s financial regulations during the period from 2019 to 2023.

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Ontario judge dismisses case alleging human rights abuses against Barrick at Tanzanian mine – by Nial McGee (Globe and Mail – November 27, 2024)

https://www.theglobeandmail.com/

An Ontario court has dismissed a pair of civil suits against Barrick Gold Corp. that alleged it was responsible for human-rights abuses at a Tanzanian mine, with the judge ruling that any such court action should be tried in Tanzania.

The plaintiffs are a group of Indigenous Kurya from villages around the mine who were injured in 2021 and 2022 when the Tanzanian police force allegedly shot at them, as well as family members of victims who were killed during this period allegedly by the police.

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Four Barrick Gold employees detained in Mali in second wave of arrests over foreign miners’ revenues – by Geoffrey York (Globe and Mail – November 26, 2024)

https://www.theglobeandmail.com/

Barrick Gold Corp. says four of its local employees have been “unjustly imprisoned” in Mali in a second wave of arrests of its staff in the West African country where one of its biggest gold mines is located.

Mali’s military regime, which took power in a 2021 coup, has been putting pressure on foreign mining companies to give the government a bigger share of their revenue. It has been seeking US$417-million from Barrick, alleging that the company failed to pay all its required taxes – a charge the company rejects.

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Barrick Falls Behind Rivals as No. 2 Miner Misses Boost From Bullion Boom – by Jacob Lorinc (Bloomberg News – November 09, 2024)

https://www.bnnbloomberg.ca/

(Bloomberg) — Most of the world’s top gold miners have seen their shares surge this year as bullion prices hit repeated record highs. Not Barrick Gold Corp.

Missed production targets, higher operational costs and political turbulence at mines in Africa and Asia have investors turning increasingly sour on the world’s second-biggest gold producer. On Thursday, Barrick posted gold output that missed analysts’ estimates for the 11th straight quarter.

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