Barrick Gold Corporation – Page 6

Barrick says Goldrush ‘world-class’ – by Adella Harding (Elko Daily Free Press – August 9, 2021)

August 10, 2021

Along with announcing an increase in adjusted net income in the second quarter, Barrick Gold Corp. on Monday reported an updated feasibility study of the Goldrush exploration project in Nevada confirmed Goldrush is a world-class asset.

The company also reported that a record of decision on Goldrush from the U.S. Bureau of Land Management is now anticipated in the fourth quarter of next year.

Catherine Raw, chief operating officer for North America, said in a earnings webinar that the permitting for Goldrush has been a “long time coming” and takes in many issues but the “decline exploration allows us to ramp up quickly,” once there is a record of decision.

Egyptian government, Canadian company sign 4 contracts for gold exploration (Daily News Egypt – July 28, 2021)

July 30, 2021

https://dailynewsegypt.com/

The Egyptian Mineral Resources Authority (EMRA) and the Canadian company, Barrick Gold Corporation, have signed four contracts related to gold exploration in the Egyptian territories.

The Canadian company is the largest gold production company of its kind in the world, and is ranked second globally in the activity of gold search.

The contracts were signed by EMRA head Khaled El-Sheshtawy and Joel Holiday, Vice President of Barrick Gold, who signed via videoconference. Tarek El Molla, Minister of Petroleum and Mineral Resources, was present to witness the signing of the contracts.

Barrick working with new DRC govt on outstanding legal, fiscal issues – by Tasneem Bulbulia (Mining Weekly.com – July 12, 2021)

July 13, 2021

https://www.miningweekly.com/

Gold miner Barrick Gold is strengthening ties with the recently appointed government in the Democratic Republic of the Congo (DRC) and is working towards an “amicable solution of some outstanding legal and fiscal issues”, CEO Mark Bristow has said.

Briefing the media about developments at the Kibali mine, in the DRC, and the Tongon mine, in Côte d’Ivoire, at the weekend, he said Barrick’s success in building and operating the Kibali mine in a remote part of the DRC was attributable to the mutually beneficial partnerships it had forged with its in-country stakeholders – the central, provincial and local governments; its host community; civil society; and a large corps of highly competent contractors and suppliers.

Barrick M&A leads to greenhouse gas emissions jump – Metals Focus – by Vladimir Basov (Kitco News – July 7, 2021)

July 7, 2021

https://www.kitco.com/

(Kitco News) – Barrick Gold’s corporate restructuring has led to a jump in greenhouse gas emissions, according to Metals Focus, a leading independent precious metals research consultancy, which today presented findings of its annual peer group ESG report comparing ESG metrics across 16 of the biggest gold miners over the last seven years.

Metals Focus said that this report, the latest of which comes out this week, aims to make like-for-like comparisons across this peer group, although this is not possible for all metrics because of the variability in disclosure.

However, Metals Focus noted that comparing these companies from a high level does offer some useful perspectives.

[Nevada Mining] One ore body, once divided – by Suzanne Featherston (Elko Daily Free Press – June 14, 2021)

June 14, 2021

https://elkodaily.com/

The gold mining operation at Carlin is the largest in the world, with a massive ore body that has yielded millions of ounces of gold over its more than 60-year history in northeastern Nevada.

Up until recent history, the Carlin Trend was mainly divided between two senior gold mining companies — Barrick Gold Corp. and Newmont Corp. On the surface, that meant fences separated properties. Underground, boundaries took the form of vertical walls.

Practically, neither company had a full understanding of how the ore body behaves from beginning to end. Sometimes the same geologic feature had different names depending on what side of the line it fell on.

Barrick CEO blasts ‘hysterical’ fund managers chasing quick cash – by James Attwood (Bloomberg News – May 5, 2021)

May 6, 2021

https://www.bnnbloomberg.ca/

Investors are undermining the gold industry’s ability to grow by demanding a bigger share of profits from high bullion prices, according to the CEO of the world’s second-largest producer.

“Fund managers just bash the table and want money — they’re not interested in this industry reinforcing its foundations,” Barrick Gold Corp. Chief Executive Officer Mark Bristow said in an interview Wednesday. “Then they turn around and get hysterical when a host country demands returns.”

While Toronto-based Barrick is returning a sizable chunk of earnings and divestment proceeds to shareholders, Bristow urged fund mangers to take a longer-term approach to generating returns for their customers.

Barrick CEO Mark Bristow opens door to merger with great rival Newmont – by Niall McGee (Globe and Mail – May 6, 2021)

May 6, 2021

https://www.theglobeandmail.com/

Mark Bristow, Barrick Gold Corp.’s chief executive officer, is ruing a lost opportunity to buy a large United States copper miner at a bargain basement price, and is now opening the door to a merger with great rival Newmont Corp.

Just more than a year ago, when the price of copper was in the pits, Mr. Bristow openly pondered a friendly deal with Freeport-McMoRan Inc. Had the transaction happened, Mr. Bristow may well have been hailed as a genius, because in the interim Freeport’s shares have gone up nearly fourfold.

Copper this year has marched to a near record high thanks in part to rebounding demand in China, and speculative demand from traders.

Barrick matches Newmont’s emissions reduction target – by Ngaire McDiarmid (Mining Journal – April 14, 2021)

April 15, 2021

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

It follows fellow gold major Newmont announcing in November “industry-leading climate targets of 30% reduction in greenhouse gas (GHG) emissions by 2030, with an ultimate goal of achieving net zero carbon emissions by 2050”.

Barrick unveiled its 2020 sustainability report last week and president and CEO Mark Bristow conducted a virtual presentation to investors yesterday on sustainability, which the miner said was “the first of its kind for Barrick”.

“A standout achievement has been our progress with regards to climate change,” Bristow said during the presentation.

Barrick Gold lost its ‘social licence’ in Papua New Guinea. This is the price it’s paying to earn it back – by Gabriel Friedman (Financial Post – April 15, 2021)

April 15, 2021

https://financialpost.com/

Mining executives often talk about the importance of having a ‘social licence’ to operate, yet it’s rare to hear them acknowledge when they don’t have one.

Barrick Gold Corp.’s chief executive Mark Bristow says it happened to his company in Papua New Guinea, where its Porgera mine had been pumping out gold for nearly three decades, even as a spate of accusations about human rights and environmental abuses in the surrounding communities have festered.

Ultimately, last April, Barrick was forced to put the mine on care and maintenance, essentially ceasing operations, when the government declined to renew its permit. Since then, Bristow has made countless trips to the island nation to meet with Prime Minister James Marape, including four since December.

Profit-sharing deal with Barrick gives Papua New Guinea majority stake in Porgera gold mine – by Niall McGee (Globe and Mail – April 10, 2021)

April 12, 2021

https://www.theglobeandmail.com/

Barrick Gold Corp. has hammered out a new profit-sharing agreement with the Papua New Guinea (PNG) government for its Porgera gold mine in which it makes major concessions in return for being able to restart operations after a year-long shutdown.

Under the pact announced on Friday, PNG’s ownership in Porgera will rise to 51 per cent from 5 per cent. Barrick and China’s Zijin Mining Group Ltd., which previously owned a combined 95 per cent stake, will see their shares fall to a combined 49 per cent. Toronto-based Barrick, the operator of the mine, will front the entire cost of reopening the site.

John Ing, analyst with Maison Placements Canada Inc., said while the new ownership agreement appears “draconian” at first sight for Barrick, being able to reopen the mine again at a time when the price of gold is elevated is a big positive.

More drilling planned at Donlin this year – by Staff (MiningWeekly.com – March 29, 2021)

March 29, 2021

https://www.miningweekly.com/

Donlin Gold, the 50:50 joint venture between Barrick Gold and Novagold Resources, has confirmed a follow-up drill programme for the Alaska project this year, following the strong outcome of its 2020 campaign.

Additional confirmation and extension drilling is planned, with specifics to be finalised once all assay results from the 2020 drill programme have been integrated into an interim model update.

Thereafter, the focus will shift to updating the feasibility study. Barrick and Novagold last week announced the final assay results from the 2020 drill programme, which the companies said exceeded expectations.

Barrick’s Bristow and Blackrock’s Hambro discuss ‘profits with purpose’ at PDAC – by Alisha Hiyate (Canadian Mining Journal – March 9, 2021)

March 10, 2021

http://www.canadianminingjournal.com/

The 89th annual Prospectors and Developers Association of Canada convention kicked off yesterday a little differently – in an online format thanks to the ongoing coronavirus pandemic.

The highlight of Day 1 was a conversation on “profits with purpose” between Barrick Gold (TSX: ABX; NYSE: ABX) president and CEO Mark Bristow and Evy Hambro, a managing director and global head of thematic and sector-based investing at BlackRock – the world’s largest asset manager.

Moderated by Aline, Cote, global head of mining technical services with Glencore International, the conversation covered the current state of the markets, the evolving nature of ESG (environmental, social and governance) metrics and expectations, how companies and investors are adjusting to the new reality, and a glimpse at where it’s all headed.

Barrick funds exploration campaign in Japan – by Staff (Mining.com – February 24, 2021)

February 25, 2021

https://www.mining.com/

The Barrick Alliance approved a $4 million budget, solely funded by Barrick Gold (TSX: ABX) (NYSE: GOLD), to complete the 2021 exploration programs planned for 29 projects in Japan.

The Barrick Alliance is a joint venture that brought together the mining giant and the projects’ owner, Japan Gold (TSXV: JG).

In a press release, Japan Gold – the operator – said that the budget and work programs will complete the 2-year initial evaluation phase regional exploration over the Alliance’s project portfolio, which covers 1,889 square kilometers.

‘Confused and anxious’ investors driving bitcoin higher: Barrick CEO – by David George-Cosh (BNN Bloomberg – February 18, 2021)

February 23, 2021

https://www.bnnbloomberg.ca/

Investors concerned about the health of the global economy are helping fuel the recent rally in bitcoin, according to the head of Barrick Gold Corp.

“One thing that is clear is that the world has not managed this pandemic well,” Mark Bristow, president and chief executive officer at Barrick Gold, said in an interview on Thursday.

“Investors are confused and anxious and there’s this response trying to offset what is clearly a risk in devaluation – massive devaluation – in the traditional ways of investing and retaining your wealth.