Reko Diq

Strategy-Driven Barrick Builds on Value Foundation

Retrieved on: 
Thursday, March 28, 2024
Partnership, Barrick Gold, EDGAR, Copper, Gold, Society, Randgold Resources, Woman, TSX, Mining, Reko Diq, Annual general meeting, Mergers and acquisitions, Uranium mining

“This Barrick is guided by a long-term, future-facing strategy, finely attuned to the demands and expectations of a rapidly changing world.

Key Points: 
  • “This Barrick is guided by a long-term, future-facing strategy, finely attuned to the demands and expectations of a rapidly changing world.
  • Its aim is not only to secure the company’s sustainable profitability but also to make sustainability, in every sense, the core of its activities.
  • The renewed emphasis on exploration has placed Barrick in the unique position of more than replenishing the reserves depleted by mining year after year.
  • Expanding the copper portfolio was one of Barrick’s key strategic aims, and when the new Lumwana and Reko Diq are commissioned in 2028, Barrick will become a major-league producer.

Geologically Driven Asset Management Delivers Barrick’s Third Successive Year of Reserve Growth at Sustained Quality, While Unlocking Embedded Growth Portfolio

Retrieved on: 
Thursday, February 8, 2024
Copper, Growth, Evaluation, Lumwana, UNT Coliseum, TSX, Barrick Gold, Gold, Area studies, Reko Diq, KCD

TORONTO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) grew attributable proven and probable gold mineral reserves by 5.0 million ounces before 2023 depletion, while continuing to maintain the quality of the mineral reserve base. Attributable proven and probable mineral reserves now stand at 77 million ounces2 at 1.65g/t, increasing from 76 million ounces3 at 1.67g/t in 2022. Led by the Africa & Middle East region, Barrick has delivered a third consecutive year of organic gold reserve growth over and above annual depletion. This unremitting focus on asset quality has successfully delivered replacement of over 140%4 of the company’s gold reserve depletion since end of year 2019, adding almost 29 million ounces4 of attributable proven and probable reserves or 44 million ounces4 of proven and probable reserves on a 100% basis (excluding acquisitions and divestments).

Key Points: 
  • Attributable proven and probable mineral reserves now stand at 77 million ounces2 at 1.65g/t, increasing from 76 million ounces3 at 1.67g/t in 2022.
  • Led by the Africa & Middle East region, Barrick has delivered a third consecutive year of organic gold reserve growth over and above annual depletion.
  • Successful drilling programs at Lumwana drove the growth of proven and probable copper reserves by 330 thousand tonnes2 of copper in 2023.
  • Looking forward to 2024, the regional mineral resource base is forecast to be a key driver of future growth.

Barrick’s Tanzanian Mines on Tier One Track With Potential for Extending Lives, Growing Production

Retrieved on: 
Sunday, January 21, 2024
Woman, Employment, Barrick Gold, GOLD, Government, Health, Life, Partnership, Developed country, Rehabilitation, Mining, ATE, Tax, Gold, TSX, Reko Diq, Safety, Violence, Tourism

BULYANHULU, Tanzania, Jan. 21, 2024 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) – Barrick’s North Mara and Bulyanhulu gold mines have sustained their strong performance and achieved their production guidance for 2023. The mines are part of Twiga Minerals, a joint venture between Barrick and the Government of Tanzania.

Key Points: 
  • The mines are part of Twiga Minerals, a joint venture between Barrick and the Government of Tanzania.
  • Conversion drilling at both mines has again replenished their reserves after depletion.
  • At Bulyanhulu, there are near-surface opportunities with the potential for increasing production and mining flexibility.
  • The success of the partnership model we pioneered here represents, I believe, the future of mining, particularly in developing countries.

Silver Bull Secures US$9.5M Litigation Funding to Pursue Damages Claim Against the Mexican Government

Retrieved on: 
Wednesday, September 6, 2023
International Centre for Settlement of Investment Disputes, Zinc, Resource, Miner, Natural Resources, SVB, Investment, Sierra Mojada, News, North American Free Trade Agreement, BSF, King's Bench Walk, London, OTCQB, NAFTA, Government, Silver, SEDAR, TSX, Silver Bull of Delphi, LLP, Reko Diq, Disclosure, Convention, LFA, Definition, US, Nationalization, International law, Nationals, Regulation, Mineral Resources Limited, ICSID, World Bank, Metallurgy, Settlement, Mining, Silver mining, Insurance, Cryptocurrency, Agreement, Indication (medicine)

Litigation Funding Agreement (“LFA”) signed with Bench Walk Advisors LLC (“Bench Walk”) to pursue international arbitration claims against Mexico for breaches of its obligations under NAFTA.

Key Points: 
  • Litigation Funding Agreement (“LFA”) signed with Bench Walk Advisors LLC (“Bench Walk”) to pursue international arbitration claims against Mexico for breaches of its obligations under NAFTA.
  • “The substantial litigation funding secured under the LFA is a testament to the strength of Silver Bull’s claims.
  • The US$9.5 million funding facility is non-dilutive to Silver Bull shareholders and will cover the full legal budget of the claim, expert, and ancillary costs, as well as Silver Bull’s operating expenses.
  • Silver Bull held a meeting with Mexican government officials in Mexico City on May 30, 2023, in an attempt to explore amicable settlement options and avoid arbitration.

Barrick Readies Porgera for Restart

Retrieved on: 
Friday, August 4, 2023
Maintenance, Employment, Partnership, Reko Diq, PNG, Halifax International Security Forum, International Africa Development Forum, TSX, Barrick Gold, NYSE, Mining

PORGERA, Papua New Guinea , Aug. 04, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is aiming to restart operations at the Porgera gold mine later this year, president and chief executive Mark Bristow says.

Key Points: 
  • PORGERA, Papua New Guinea , Aug. 04, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is aiming to restart operations at the Porgera gold mine later this year, president and chief executive Mark Bristow says.
  • At the same event, the Mining Minister told the audience the maintenance of law and order was critical for the successful restart and operation of the mine.
  • Bristow commented that, if all goes according to plan, Porgera could be back in operation before the end of 2023.
  • Papua New Guinea stakeholders own 51% of New Porgera with Barrick Niugini Limited, which will operate the mine, holding 49%.

Barrick Targets 2028 for First Production from Reko Diq

Retrieved on: 
Tuesday, August 1, 2023
Partnership, Mineral, Reko Diq, Metal, Bristow, Mining, TSX, Federation, Copper, Barrick Gold, NYSE

ISLAMABAD, Pakistan, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) president and chief executive Mark Bristow says with the updated feasibility study on the giant Reko Diq copper-gold project making rapid progress, the company is aiming to start production in 2028.

Key Points: 
  • ISLAMABAD, Pakistan, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) president and chief executive Mark Bristow says with the updated feasibility study on the giant Reko Diq copper-gold project making rapid progress, the company is aiming to start production in 2028.
  • Speaking at the inaugural session of Pakistan’s first Minerals Summit, Bristow said the signing of the New Reko Diq agreement last year was a landmark event in the development of a mining industry in Pakistan, a process which will be accelerated by the Minerals Summit.
  • Barrick owns 50% of Reko Diq and is developing and will operate the mine.
  • The Balochistan province, which hosts the deposit, has a 25% share and the federal government holds the other 25% through state-owned entities.

The Positive Impact of Responsible Mining at Barrick

Retrieved on: 
Tuesday, July 25, 2023
Reko Diq, Sustainability reporting, International Council, Recycling, International Council on Mining and Metals, Sustainable Development Goals, Biodiversity, Regeneration, Bristow, Investment, Mining, Water, Economic development, TSX, ESG, United, Barrick Gold, NYSE, Transport, Renewable energy

TORONTO, July 25, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Effective and equitable socio-economic development worldwide would not be possible without the transformative contribution of responsible mining, Barrick president and chief executive Mark Bristow said today.

Key Points: 
  • TORONTO, July 25, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Effective and equitable socio-economic development worldwide would not be possible without the transformative contribution of responsible mining, Barrick president and chief executive Mark Bristow said today.
  • “We believe mining is the flywheel of development and therefore the entire industry is essential to the achievement of the SDGs,” he said.
  • “Done right, the mining industry is a powerful force for good in the global drive for social and economic development.
  • At Barrick, we continue to focus on sustainable delivery across our mines and projects in 14 countries,” Bristow said.

Continued Reserve Replacement and Disciplined Strategy Support Barrick’s 10-Year Growth Plan

Retrieved on: 
Friday, March 31, 2023
Workforce, Uncertainty, Reko Diq, Sustainability reporting, EDGAR, Hockey Hall of Fame, Gold, Mining, Economic development, Annual general meeting, SEDAR, TSX, Growth, Health, Barrick Gold, Environment, Yonge Street, NYSE, Safety, Management

“Attuned to the cyclicality of markets, Barrick’s strategy of building its future by continuing to invest in sustainably profitable growth, organic as well as external, has equipped us well to deal with challenging circumstances.

Key Points: 
  • “Attuned to the cyclicality of markets, Barrick’s strategy of building its future by continuing to invest in sustainably profitable growth, organic as well as external, has equipped us well to deal with challenging circumstances.
  • “Our focus in 2023 will be on expanding Barrick’s value foundation, already one of the industry’s best, within and beyond our current borders.
  • The Reko Diq project in Pakistan will almost double our current copper production and will add to our gold production when it is fully operational.
  • Our 2022 Sustainability Report, which objectively rates our performance against a wide range of metrics, will be published in April 2023.

Focus on Tier One Assets Delivers Significant Increase in Resources and Reserves, Underpinning Industry-Leading Production Profile Growth

Retrieved on: 
Thursday, February 9, 2023
Lumwana, UNT Coliseum, TSF, Gold, NYSE, TSX, Evaluation, Gold rush, Barrick Gold, H13, Robertson, Reko Diq, Growth, Goldstrike mine, Bristow, Oil, Mining, H15

TORONTO, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) grew attributable proven and probable gold mineral reserves by 6.7 million ounces net of depletion in 2022, while maintaining grade despite an increase in the reserve price assumption. Reported at $1,300/oz1, attributable proven and probable mineral reserves now stand at 76 million ounces2 at 1.67g/t, increasing from 69 million ounces3 at 1.71g/t reported at $1,200/oz1 in 2021. Led by Pueblo Viejo and the Africa & Middle East region, Barrick has now delivered a second consecutive year of gold reserve growth over and above annual depletion, with nearly 12 million ounces2 of attributable proven and probable reserve gains in 2022 before depletion.

Key Points: 
  • Total attributable gold mineral resources grew by nearly 10% relative to 2021, and total attributable copper mineral resources more than doubled, growing by 124% year over year, both net of annual depletion.
  • Attributable measured and indicated gold resources for 2022 stand at 180 million ounces2 at 1.07g/t, with a further 42 million ounces2 at 0.8g/t of inferred resources.
  • Attributable measured and indicated copper resources for 2022 stand at 44 billion pounds2 at 0.39%, with a further 15 billion pounds2 at 0.4% of inferred resources.
  • Inferred attributable gold resources also increased to 17 million ounces2 at 1.8 g/t, from 16 million ounces3 at 2.0 g/t in 2021.

Barrick makes initial payment of $3 million to Balochistan

Retrieved on: 
Tuesday, January 31, 2023
Policy, NYSE, Reko Diq, Employment, Education, TSX, Government of Balochistan, Pakistan, Partnership, Barrick Gold, Food security, Barrick, Security (finance)

QUETTA, Pakistan, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has paid the first US$3 million (approximately 750 million Pakistani rupees) to the Balochistan provincial government as part of the new Reko Diq partnership. After the signing of definitive agreements and completion of legal process last month, Barrick and the Government of Balochistan recently agreed upon the timetable for the disbursement of committed funds to the province.

Key Points: 
  • QUETTA, Pakistan, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has paid the first US$3 million (approximately 750 million Pakistani rupees) to the Balochistan provincial government as part of the new Reko Diq partnership.
  • After the signing of definitive agreements and completion of legal process last month, Barrick and the Government of Balochistan recently agreed upon the timetable for the disbursement of committed funds to the province.
  • Reko Diq Pakistan Country Manager Ali E. Rind handed over the cheque for $3 million to Secretary, Mines and Minerals Development Department, Mr. Saidal Khan Luni.
  • The company plans to finish the Reko Diq feasibility study update by the end of 2024, with 2028 targeted for first production.