Latest news with #BarrickGoldCorp
Business Insider
11-07-2025
- Business
- Business Insider
Mali's military helicopter airlifts $117 million worth of gold from Barrick's mine amidst tension
Malian military helicopters made an unannounced landing at Barrick Gold Corp.'s mine on Thursday and seized over a metric ton of gold, the company said. Malian military helicopters seized over a metric ton of gold at a Barrick Gold Corp. mine in an unannounced operation. Mali's actions are part of broader trends in the Sahel region, where resource control by military governments is increasing. The confiscation follows actions to fund operations through gold sales amidst disputes over mining profits and regulations. Malian military helicopters made an unannounced landing at Barrick Gold Corp.'s mine on Thursday and seized over a metric ton of gold, the company said. On Thursday morning, a brown-and-green military helicopter landed at the Loulo-Gounkoto gold mine's tree-lined airstrip, according to a source familiar with the matter. The passengers were escorted by the mine's security team to the processing plant, where the gold room is located. Roughly five hours later, the helicopter departed with gold bullion on board, a source told Reuters. Barrick said the helicopters landed 'unannounced' and seized over one metric ton of gold, roughly 2,204 pounds, potentially for sale by the court-appointed administrator. However, the company noted that the situation remains fluid, and the final intent is still unclear. One metric ton of gold was worth approximately $117.2 million on Thursday, based on gold prices trading around $3,324 per ounce, Bloomberg reported. Earlier in January, Business Insider Africa reported that the Malian government confiscated three metric tons of gold from the Loulo-Gounkoto mine, with sources estimating the value of the seized bullion at approximately $245 million. Growing tensions These developments have further escalated tensions in Mali's mining sector, where the government has been tightening its grip and pushing for a larger share of profits from resource extraction. The standoff dates back to 2023 when Mali's cash-strapped military regime began demanding that foreign investors pay alleged back taxes and comply with a new mining code granting the state greater royalties and increased equity in joint ventures. The conflict has since deepened, with authorities detaining senior executives from Barrick and even issuing an arrest warrant for the company's CEO, Mark Bristow. While Barrick's dispute remains unresolved, other major gold miners operating in Mali, including B2Gold Corp., have reached settlements involving state payments and higher royalty rates. Tensions in Mali's mining sector mirror a broader trend across the Sahel, where military governments are asserting control. In neighbouring Burkina Faso, the junta has threatened to revoke mining permits, while in Niger, authorities recently seized a French-operated uranium site, moves that have alarmed Western mining companies.
The Market Online
26-05-2025
- Business
- The Market Online
Barrick faces critical court ruling in Mali as the dispute escalates
A pivotal ruling is expected on June 2nd from the President of the Bamako Commercial Tribunal in a high-stakes legal battle between Barrick Gold Corp. (TSX:ABX) and the Malian government over the future of the Loulo-Gounkoto mining complex The government's move, which Barrick has described as legally unfounded and unprecedented, seeks to transfer control of the site to a court-appointed administrator Barrick has operated in Mali for nearly 30 years, contributing significantly to the country's economy and social development Barrick Mining stock (TSX:ABX) last traded at C$26.18 A pivotal ruling is expected on June 2nd from the President of the Bamako Commercial Tribunal in a high-stakes legal battle between Barrick Gold Corp. (TSX:ABX) and the Malian government over the future of the Loulo-Gounkoto mining complex. The decision follows submissions made on May 22 by Barrick's Malian subsidiaries opposing the government's May 8 request to place the mining operations under provisional administration. The government's move, which Barrick has described as legally unfounded and unprecedented, seeks to transfer control of the site to a court-appointed administrator. In a media release, Barrick strongly rejected the government's claims, asserting that there is no legal or operational justification for such an intervention. The company emphasized that the attempt to seize control of the Loulo-Gounkoto complex violates both Malian law and the terms of its binding agreements with the state. This legal escalation comes amid a broader dispute that has seen several Barrick employees detained for over five months and the suspension of gold exports from the site. Despite these challenges, Barrick has continued to pay wages and support the suspended operations. Barrick has operated in Mali for nearly 30 years, contributing significantly to the country's economy and social development. The company has initiated international arbitration proceedings under the dispute resolution mechanisms outlined in its Mining Conventions and has stated its willingness to engage in dialogue with the Malian government. In a letter sent last week to Mali's Minister of Economy and Finances, Barrick reaffirmed its readiness to negotiate a resolution that would secure the release of its detained employees and allow for the resumption of mining activities. As the June 2 ruling approaches, the outcome could have far-reaching implications not only for Barrick's operations in Mali but also for investor confidence in the country's mining sector. Barrick Mining Corp. is the world's second-largest gold producer with ownership interests in producing gold mines in Argentina, Canada, Cote d'Ivoire, the Democratic Republic of the Congo, the Dominican Republic, Mali, Tanzania and the United States. Barrick Mining stock (TSX:ABX) last traded at C$26.18 and has risen 12.51 per cent since this time last year. Join the discussion: Find out what everybody's saying about this stock on the Barrick Corp. Bullboard investor discussion forum, and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
San Francisco Chronicle
07-05-2025
- Business
- San Francisco Chronicle
Barrick Gold: Q1 Earnings Snapshot
TORONTO (AP) — TORONTO (AP) — Barrick Gold Corp. (GOLD) on Wednesday reported first-quarter net income of $474 million. The Toronto-based company said it had profit of 27 cents per share. Earnings, adjusted for non-recurring costs, came to 35 cents per share. The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share. The gold and copper mining company posted revenue of $3.13 billion in the period.
Yahoo
07-05-2025
- Business
- Yahoo
Barrick Gold: Q1 Earnings Snapshot
TORONTO (AP) — TORONTO (AP) — Barrick Gold Corp. (GOLD) on Wednesday reported first-quarter net income of $474 million. The Toronto-based company said it had profit of 27 cents per share. Earnings, adjusted for non-recurring costs, came to 35 cents per share. The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share. The gold and copper mining company posted revenue of $3.13 billion in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GOLD at
Hamilton Spectator
28-04-2025
- Business
- Hamilton Spectator
Barrick Gold looks to change name to Barrick Mining as it builds copper business
TORONTO - Barrick Gold Corp. announced plans to change its name to Barrick Mining Corp. as it looks to continue to grow its copper business. The new moniker is subject to approval at the company's upcoming annual and special meeting of shareholders set for May 6. Barrick chief executive Mark Bristow says the company's vision is to be the world's most valued gold and copper exploration, development and mining company. He says the new name better reflects Barrick's current business and its mission to achieve sustainable and profitable gold and copper growth. The company also plans to change its ticker symbol on the New York Stock Exchange to B from GOLD. Barrick will continue to trade under the symbol ABX on the Toronto Stock Exchange. This report by The Canadian Press was first published April 28, 2025. Companies in this story: (TSX:ABX)
