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Barrick Gold Corp. - GOLD STOCK NEWS

Welcome to our dedicated page for Barrick Gold news (Ticker: GOLD), a resource for investors and traders seeking the latest updates and insights on Barrick Gold stock.

Barrick Gold Corp. (symbol: GOLD) is a leading global mining company headquartered in Toronto, Canada. Founded in 1983, Barrick operates gold and copper mines across 19 countries, including Argentina, Australia, Canada, Chile, the Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, the United States, and Zambia. The company's stocks trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol ABX.

Core Business: Barrick Gold Corp. focuses on the exploration, development, and production of gold and copper, producing nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper in 2023. The company holds approximately two decades' worth of gold reserves and significant copper reserves.

Key Achievements: Barrick's recent achievements include the acquisition of Randgold in 2019 and forming a joint venture with Newmont for its Nevada mines. The company is also working on significant projects like the Reko Diq copper-gold project in Pakistan and the Lumwana Super Pit project in Zambia, which are expected to enhance its copper portfolio by 2028.

Financial Performance: In 2023, Barrick's gold production reached 4.05 million ounces and its copper output was 420 million pounds. The company's operating cash flows increased by 7% year-on-year to $3.7 billion, and free cash flow rose by 50% to $646 million. Net earnings increased by 200% to $0.72 per share, and adjusted net earnings increased by 12% to $0.84 per share.

Partnerships and Sustainability: Barrick's vision is to generate wealth responsibly, benefiting its owners, employees, and partner countries and communities. The company is committed to sustainability, evident in projects like environmental rehabilitation at the now-closed Buzwagi mine in Tanzania. Barrick's holistic approach aligns with the United Nations' Sustainable Development Goals (SDGs) and aims to deliver measurable outcomes that benefit both the environment and local communities.

Strategic Outlook: Barrick aims to sustain its industry-leading organic growth outlook, projecting a 30% increase in gold equivalent production by the end of the decade. The company is also focusing on expanding its copper production, with projects like the Reko Diq copper-gold project and the Lumwana Super Pit expected to significantly contribute to its portfolio.

Recent News: Barrick announced its fourth quarter and full-year 2023 results, highlighting a strong financial performance and the declaration of a dividend of $0.10 per share. The company also announced a new share buyback program for up to $1.0 billion of its outstanding common shares.

  • Fourth Quarter and Full Year 2023 Results: Barrick achieved a robust financial performance despite challenges in the first half of the year.
  • Sustainability Initiatives: Barrick continued its environmental and community-focused projects in regions like Tanzania and Zambia.
  • Strategic Projects: Significant progress was made on key projects like the Pueblo Viejo expansion in the Dominican Republic and the Goldrush project in Nevada.
Rhea-AI Summary
Barrick Gold Corporation's North Mara and Bulyanhulu gold mines have met their production guidance for 2023, achieving strong performance. The transformation of these mines into a world-class complex showcases the potential of the partnership between mining companies and the Government of Tanzania. The mines have replenished their reserves after depletion, with potential for further underground operations and increased production. Barrick's investment in the Tanzanian economy totals more than $3.4 billion, contributing significantly to the government's revenue. The company has also received accolades for its value-adding partnerships, community contributions, and health and safety programs. Additionally, Twiga Minerals is nearing completion of its Future Forward education initiative and progressing its pledge to build a world-class road to the Kahama airport. Barrick has made a significant impact on Tanzania's economic growth and represents the future of mining in developing countries.
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Barrick Gold Corporation's president and CEO, Mark Bristow, highlighted the importance of leaving a positive legacy for local communities after mining is complete. The company handed over a new airport terminal to the Tanzania Airport Authority, marking the conclusion of an eight-month partnership. The total cost of the project was $384,000, with Barrick contributing 70% and TAA contributing 30%. The new terminal is expected to serve as a catalyst for economic growth in the region, with the potential to create 3,000 jobs annually and generate significant tax revenue.
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Barrick Gold Corporation reported preliminary full year and fourth quarter 2023 production results, with 4.05 million ounces of gold and 420 million pounds of copper produced. The average market price for gold in Q4 was $1,971 per ounce and for copper was $3.70 per pound. The Q4 gold production improved from Q3, but costs per ounce are expected to be higher. Preliminary Q4 copper production was consistent with Q3, but costs per pound are expected to be higher. The company will provide additional discussion and analysis regarding its full year and Q4 2023 production and sales when it reports its quarterly and full year results on February 14, 2024.
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Barrick Gold Corporation (GOLD) to release Q4 2023 results on February 14, 2024. President and CEO Mark Bristow to host live presentation with interactive webinar and conference call. Preliminary production, sales, and cost information to be released on January 16, 2024.
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Barrick Gold Corporation (GOLD) Mourns the Passing of Board Member Gustavo Cisneros
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Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) has formally completed the Porgera Project Commencement Agreement, starting work on the recommissioning of the Porgera gold mine in Papua New Guinea. The mine has been in care and maintenance since April 2020, and the work is expected to be completed in a few weeks, with mining and processing restarting in the first quarter of 2024. Barrick president and chief executive Mark Bristow led the negotiations for the restart agreement, emphasizing the new ownership structure's alignment with the company’s host country partnership business model. Operated by Barrick through Barrick Niugini Limited (BNL), a joint venture with Zijin Mining, Porgera joins the company’s sector-leading gold asset portfolio with the potential for a Tier One production profile.
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Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has received approval from the US Bureau of Land Management for its new Goldrush underground mine at the Cortez Complex near Beowawe, Nevada. The mine is expected to produce 130,000 ounces in 2024 and grow to approximately 400,000 ounces per annum by 2028, with an investment of over $370 million to date and an anticipated total spending of approximately $1 billion. The project is expected to create approximately 500 jobs during construction and 570 new jobs during operations. The addition of Goldrush expands Barrick's asset base and demonstrates the complex's potential for growth.
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Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) announced the resumption of operations at the Porgera mine in Papua New Guinea, with an expected gold pouring in the first quarter of 2024. The new ownership structure, with 51% owned by PNG stakeholders and 49% by Barrick Niugini Limited, is set to bring in over $7 billion in economic benefits over the mine's projected 20-year life. The partnership model gives PNG stakeholders a majority interest in the mine for the first time, representing a significant revival of the country's economy.
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Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) has been honored as the Employer of the Year at the 2023 Association of Tanzania Employers (ATE) Awards for its North Mara Gold Mine operations. The company, jointly owned with the Tanzanian Government through Twiga Minerals Corporation, achieved multiple wins, including Overall Private Sector Employer, Best Corporate Social Responsibility, Excellence in Crisis Management, and more. The recognition highlights Barrick's commitment to employment practices, corporate citizenship, and taxation compliance.
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Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) supports the consolidation of responsible mining standards by The Copper Mark, Mining Association of Canada, ICMM, and the World Gold Council. Barrick has been advocating for this initiative for years, aiming to reduce complexity and provide clear direction for responsible mining. President and CEO Mark Bristow emphasizes the importance of multi-stakeholder oversight in the development of the standard.
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FAQ

What is the current stock price of Barrick Gold (GOLD)?

The current stock price of Barrick Gold (GOLD) is $15.46 as of December 20, 2024.

What is the market cap of Barrick Gold (GOLD)?

The market cap of Barrick Gold (GOLD) is approximately 26.9B.

What does Barrick Gold Corp. do?

Barrick Gold Corp. is a global mining company focusing on the exploration, development, and production of gold and copper.

Where is Barrick Gold Corp. headquartered?

Barrick Gold Corp. is headquartered in Toronto, Canada.

What are Barrick Gold Corp.'s key achievements?

Key achievements include acquiring Randgold in 2019, forming a joint venture with Newmont, and working on significant projects like the Reko Diq copper-gold project in Pakistan.

How did Barrick Gold Corp. perform financially in 2023?

In 2023, Barrick's operating cash flows increased by 7% to $3.7 billion, free cash flow rose by 50% to $646 million, and net earnings increased by 200% to $0.72 per share.

What is Barrick Gold Corp.'s approach to sustainability?

Barrick focuses on responsible mining and sustainability, aligning its initiatives with the United Nations' Sustainable Development Goals (SDGs) to deliver measurable environmental and community benefits.

What are Barrick Gold Corp.'s future plans?

Barrick aims to increase its gold equivalent production by 30% by the end of the decade and expand its copper production through projects like the Reko Diq and Lumwana Super Pit.

Where are Barrick Gold Corp.'s shares traded?

Barrick Gold Corp.'s shares trade on the New York Stock Exchange (symbol: GOLD) and the Toronto Stock Exchange (symbol: ABX).

What recent news has Barrick Gold Corp. announced?

Recent news includes the company's fourth quarter and full-year 2023 results, a dividend declaration, and a new $1.0 billion share buyback program.

How much gold and copper did Barrick produce in 2023?

In 2023, Barrick produced 4.05 million ounces of gold and 420 million pounds of copper.

What sustainability projects is Barrick involved in?

Barrick is involved in environmental rehabilitation projects, such as the Buzwagi mine in Tanzania, and initiatives to provide potable water to communities near its mines.

Barrick Gold Corp.

NYSE:GOLD

GOLD Rankings

GOLD Stock Data

26.88B
1.74B
0.61%
61.93%
0.87%
Gold
Basic Materials
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United States of America
Toronto