Barrick Gold Corp - CEO, Mark Bristow
CEO, Mark Bristow
Source: Geko Research
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Barrick Gold Corporation’s (ABX) Kibali gold mine has produced another stellar yield
  • A total of 812,152 ounces of gold was produced from the mine in 2021
  • Barrick expects to increase its mineral reserves net of depletion for the third successive year
  • Barrick Gold has invested about $3.7 billion in the DRC through taxes, permits, infrastructure, salaries, and payments to local partners
  • Barrick Gold Corporation’s (ABX) is down 1.75 per cent and is trading at $24.48 per share as of 12:55 p.m. EST

Barrick Gold Corporation’s (ABX) Kibali gold mine has produced another stellar yield.

A total of 812,152 ounces of gold has been produced from the mine in 2021.

Barrick expects to increase its mineral reserves for the third successive year.

This projection will maintain Kibali’s 10-year life as one of Barrick’s tier-one assets.

Barrick notes this performance was achieved with no lost-time injuries during the last quarter.

The Kibali mine continues to lead the group’s clean energy drive with power sourced from its three upgraded hydropower stations.

Mark Bristow, President and CEO of Barrick, stated,

“The mine worked closely with the DRC’s health authorities and the provincial government to source vaccines and to date has partially vaccinated 60 per cent of its workforce, with 43 per cent of the workforce fully vaccinated.”

Barrick stated the mine strengthened local business partnerships to build a sustainable economy in the region.

During Q4 it spent $40.6 million with local contractors and suppliers, bringing the total since the start of Kibali to $2.1 billion.

The Kibali mine has invested about $3.7 billion in the DRC through taxes, permits, infrastructure, salaries, and payments to local partners.

During Q4, Barrick paid a dividend of $170 million to shareholders of Barrick, AngloGold Ashanti, and government parastatal, SOKIMO.

This payment brings the total distribution for the year to $200 million.

Bristow adds underground drilling at the KCD orebody was defining a new high-grade lode above the base of the shaft infrastructure.

The discovery could add a new orebody to the existing KCD series of orebodies.

Barrick Gold Corporation’s (ABX) is down 1.75 per cent and is trading at $24.48 per share as of 12:55 p.m. EST.

More From The Market Herald
Barrick Gold - CEO, Mark Bristow

" Barrick Gold (TSX:ABX) announces $70M investment in Tanzanian communities

Barrick Gold Corporation (ABX) has announced a $70 million investment to support the development and infrastructure of Tanzanian mine communities.

" Durango (TSXV:DGO) closes $515K flow through financing

Durango Resources (DGO) has closed its private placement for gross proceeds of C$515,500.
Tocvan Ventures (CSE:TOC) - CEO, Brodie Sutherland.

" Colibri (CBI) and Tocvan (TOC) report gold discoveries at Pilar Gold & Silver Project

Tocvan Ventures (TOC) and Colibri Resource Corp (CBI) have received drilling results from the Pilar Project.

" Pure Gold Mining (TSXV:PGM) closes $31M non-brokered private placement

Pure Gold Mining (PGM) has closed the final tranche of a non-brokered private placement for total gross proceeds of C$31,086,144.