Jefferies 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...
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