Tuesday, July 23, 2013

Chinese companies seen bidding for African Barrick Gold

August 16, 2012 by · Leave a Comment 

GATA By Bryce Elder, Helen Thomas, and Anousha Sakoui Financial Times, London Thursday, August 16, 2012 http://www.ft.com/intl/cms/s/0/883785b8-e6f6-11e1-8a74-00144feab49a.html Barrick Gold, the Canadian mining group, confirmed on Thursday it is in discussions to sell a 74 per cent stake in African Barrick Gold, the London-listed gold producer, to a Chinese company. Toronto-based Barrick said talks were under [...]

Barrick Gold ousts CEO Aaron Regent

June 7, 2012 by · Leave a Comment 

GATA From the Canadian Press via CBC News, Toronto Wednesday, June 6, 2012 http://www.cbc.ca/news/business/story/2012/06/06/barick-gold-ceo.html Barrick Gold Corp. has abruptly replaced its chief executive and installed a former U.S. investment banker as co-chairman of its board of directors, saying they will help the company restore its lacklustre stock price. Jamie Sokalsky, who was the Toronto-based company’s [...]

Barrick Gold: Here’s Why We Eliminated Our Gold Hedges

December 9, 2009 by · Leave a Comment 

By Joe Weisenthal, The Business Insider Just last week, major gold miner Barrick Gold (ABX) announced that it had fully eliminated its hedge book, and so from here on out, its earnings would be fully exposed to the price of the metal. When it was announced, the stock popped, since everyone’s bullish on gold. But on Friday [...]

Barrick still mulling over Cerro Casale numbers

October 30, 2009 by · Leave a Comment 

Canadian gold-miners Barrick Gold and Kinross Gold have completed a draft feasibility study on their Cerro Casale project, in Chile, but there is still some work to be done to improve the economics of the project, Barrick CEO Aaron Regent said on Thursday. “We intend to spend the next few months reviewing various options to [...]

Barrick Gold’s 3rd Quarter Results Will Show the Progress of Its De-Hedging

October 29, 2009 by · Leave a Comment 

Barrick Gold (ABX) is a peculiar investment to analyse. Its past is steeped in mystery, some good, some bad. We’re not here to judge this on their morals, just their investment potential. As a brand in the gold mining sphere, it’s a powerhouse. The largest gold producer in the world by market cap and annual [...]

Barrick’s adjusted earnings rise 17%

October 29, 2009 by · Leave a Comment 

The world’s biggest gold miner, Canadian Barrick Gold, on Thursday reported a big net loss for the third quarter, essentially because of a $5,7-billion accounting charge related to the company’s announcement that it will eliminate its gold hedges. The firm lost $5,4-billion, compared with a $254-million profit a year earlier. Read more….

Gold at $2,000 Becomes Inflation-Adjusted Bullseye for ‘80 High

October 19, 2009 by · Leave a Comment 

By Pham-Duy Nguyen Oct. 19 (Bloomberg) — Gold’s rally to a record means prices are still 53 percent below the 1980 inflation-adjusted peak. While gold rose 19 percent this year to $1,072 an ounce on Oct. 14, consumer prices almost tripled in the past three decades, eroding the metal’s value. Bullion hasn’t kept pace with [...]

Barrick to cut about 80 jobs, mainly corporate

October 19, 2009 by · Leave a Comment 

Toronto-based Barrick Gold expects to save at least $50-million a year once it has completed planned changes to its organisational structure, the gold-miner said on Monday. Following an internal review, the company has identified and plans to eliminate “areas of overlap” and will give more responsibility to its regional business units. Read more….

Barrick Gold Buys Chilean Mine but Still Expects Lower Production for 2009

October 14, 2009 by · Leave a Comment 

Zacks.com submits: Barrick Gold Corporation (ABX), the largest gold mining company in the world, has entered into an agreement with Xstrata Copper Chile S.A., a wholly owned subsidiary of Xstrata Plc (XSRAF.PK), to acquire Xstrata’s 70% interest in the El Morro project for $465 million in cash. Another Canadian miner, New Gold Inc. (NGD) owns [...]

Xstrata to sell El Morro to Barrick for $465m

October 12, 2009 by · Leave a Comment 

World number-one gold-miner Barrick Gold will buy Xstrata’s 70% stake in the El Morro copper/gold project in Chile for $465-million, adding another "large, high-quality" gold/copper resource to its portfolio. El Morro is located near Barrick’s Pascua-Lama and Cerro Casale projects, and Barrick CEO Aaron Regent said that the gold company would look to capture potential [...]

Next Page »