The International Finance Corporation has committed an additional $400 million subordinated loan to Barrick Gold’s Reko Diq copper-gold project in Pakistan, bringing the World Bank Group’s total financing commitment to $700 million for what is expected to become one of the world’s largest copper mines. The loan, announced June 13, supports the project’s total estimated...
READ MOREBarrick Gold Corporation has announced plans to change its name to Barrick Mining Corporation as part of its strategic shift toward increasing copper production. The proposal follows the completion of feasibility studies for two major copper projects: the Reko Diq copper-gold project in Pakistan and the Lumwana Super Pit expansion in Zambia. Both projects are...
READ MOREBarrick Gold Corporation has announced plans to change its name to Barrick Mining Corporation as part of its strategic shift toward increasing copper production. The proposal follows the completion of feasibility studies for two major copper projects: the Reko Diq copper-gold project in Pakistan and the Lumwana Super Pit expansion in Zambia. Both projects are...
READ MOREJefferies has added Barrick Gold to its list of preferred North American copper miners, despite the company primarily generating revenue from gold. The investment bank acknowledges the unconventional nature of the call but expects Barrick’s attributable copper production to double to over 450,000 metric tons annually, contributing approximately 25% of its revenue later this decade,...
READ MOREBarrick Gold has significantly increased the proven and probable mineral reserves at its Lumwana mine in Zambia by 180%, reaching 1.6 billion tonnes at 0.52% copper. The expansion project aims to double annual copper production from the current 120,000-140,000 tonnes to an estimated 240,000 tonnes, extending the mine’s operational life to 2057. The company recently...
READ MOREBarrick Gold Corporation reported a robust fourth quarter, increasing gold production by 15% and copper production by 33% over Q3, meeting its annual production guidance. Gold cost of sales and total cash costs declined by 3% and 5%, respectively, contributing to improved margins. For 2024, net earnings surged 69% to $2.14 billion, while adjusted net...
READ MOREBarrick Gold is evaluating whether to place its suspended Loulo-Gounkoto mine in Mali under care and maintenance, as the site remains inoperative following the seizure of its gold stockpiles and the detention of four employees. CEO Mark Bristow stated that the company is engaged in discussions with Malian authorities to resolve the situation and secure...
READ MORE
