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Barrick Gold Corporation

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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Barrick prepared to give Mali more than half of economic spoils to end fiscal dispute – by Niall McGee (Globe and Mail – November 8, 2024)

https://www.theglobeandmail.com/

Barrick Gold Corp. chief executive Mark Bristow says the Canadian gold miner is prepared to fork over to Mali more than half of the economic spoils from mining in the country, as it toils to put an end to yet another fiscal dispute with an overseas government.

Toronto-based Barrick over the past few years has bounced from one fiscal dispute to another with several host countries over taxes, royalties and joint-venture stakes in its mines overseas. After patching up disputes that lasted for years with both Tanzania in East Africa and then Papua New Guinea in the southwestern Pacific, Barrick this year has tangled with Mali’s military junta in West Africa.

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Mali threatens to let Barrick mine permit lapse over dispute – by Katarina Höije, Diakaridia Dembele and William Clowes (Bloomberg News – October 25, 2024)

https://www.bnnbloomberg.ca/

Mali’s military government has threatened to take back Barrick Gold Corp.’s Loulo mine concession when the current permit expires in 2026, amid an escalating dispute over how to divide the economic benefits from operations in the country.

Mali is considering letting the permit for Loulo lapse when it expires in February 2026, Finance Minister Alousseni Sanou said in an Oct. 18 letter sent to Barrick’s chief executive officer Mark Bristow, and seen by Bloomberg. Mali “reserves the right not to renew the operating permit” and invited Barrick to talks on the mine’s “transition phase” starting later this month, Sanou wrote.

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Barrick Gold asks judge to dismiss Ontario lawsuits for alleged killings and abuses at Tanzanian mine – by Niall McGee (Globe and Mail – October 17, 2024)

https://www.theglobeandmail.com/

Barrick Gold Corp. is asking an Ontario judge to dismiss lawsuits alleging that its subsidiary in East Africa committed human-rights atrocities in the vicinity of its North Mara mine, arguing that the matter should be litigated overseas.

Barrick is defending two civil cases in the Ontario Superior Court of Justice, one from November, 2022, and another from February of this year. The plaintiffs are Indigenous Kurya from villages around the mine in Tanzania who were injured in 2021 and 2022 when mine security police 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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Mali seeks $500 million in outstanding taxes and dividends from Barrick – report – by Staff (Mining.com – October 8, 2024)

https://www.mining.com/

Mali’s military government is seeking at least 300 billion CFA ($512 million) in outstanding taxes and dividends from Barrick Gold, according to a Reuters report.

Authorities in Mali briefly detained four Malian staff members working for Barrick last month.On Sept. 30, Barrick stated it had agreed with the government to resolve existing claims and disputes.

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