Barrick Gold http://www.globalpost.com/taxonomy/term/38145/all en UPDATE 2-Avocet Mining rules out share sale in fundraising drive http://www.globalpost.com/dispatch/news/thomson-reuters/130307/update-1-avocet-says-talks-restructure-funding <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Inata mine to yield 920,000 oz gold vs prior view of 1.85 mln oz</p> <p>* Avocet in talks with Macquarie, other bankers</p> <p>* 2012 EBITDA down 43 pct to $48.3 mln</p> <p>* Gold production this year to be similar to 2012 level</p> <p>* Cash costs to rise to $1,103/oz in 2013, from $1000/oz (Adds CEO comments, details on forecast; updates share move)</p> <p>By Brenton Cordeiro</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130307/update-1-avocet-says-talks-restructure-funding" target="_blank">read more</a></p> Avocet Mining Plc Banks of Australia Barrick Gold Business Entertainment Goldfields-Esperance Investment Macquarie Group Mining Thomson Reuters Thu, 07 Mar 2013 08:45:13 +0000 Thomson Reuters 5775843 at http://www.globalpost.com Chile halts construction of huge gold mine http://www.globalpost.com/dispatch/news/afp/130410/chile-halts-construction-huge-gold-mine-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>A Chilean court said on Wednesday it has suspended construction of what would be one of the world's biggest gold mines, accepting a complaint filed by indigenous groups on environmental grounds.</p> <p>The complaint against the project launched in 2009 by Canadian mining company Barrick Gold, the world's largest gold producer, cited concerns over possible damage to a river, according to the ruling by the Santiago Appeals Court, which was seen by AFP and issued Tuesday night.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130410/chile-halts-construction-huge-gold-mine-0" target="_blank">read more</a></p> Barrick Gold Mining S&P/TSX Composite Index AFP Wed, 10 Apr 2013 13:30:43 +0000 Agence France-Presse 5808854 at http://www.globalpost.com Chile halts construction of huge gold mine http://www.globalpost.com/dispatch/news/afp/130410/chile-halts-construction-huge-gold-mine-2 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>A Chilean court suspended construction of what would be one of the world's biggest gold mines on Wednesday, accepting a complaint filed by indigenous groups on environmental grounds.</p> <p>The project was launched in 2009 by Canadian mining company Barrick Gold, the world's largest gold producer, after an initial investment of $8 billion.</p> <p>It plans to spend $8.5 billion more on the unfinished Pascua Lama mine, which straddles the Chile-Argentina border at an altitude of 4,000 meters (13,200 feet), and had hoped to start production next year.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130410/chile-halts-construction-huge-gold-mine-2" target="_blank">read more</a></p> Barrick Gold Business Mining S&P/TSX Composite Index AFP Wed, 10 Apr 2013 16:45:53 +0000 Agence France-Presse 5809084 at http://www.globalpost.com TSX pulled lower by resources sectors, weak U.S. Q1 economic growth data http://www.globalpost.com/dispatch/news/the-canadian-press/130429/tsx-pulled-lower-resources-sectors-weak-us-q1-economic-growt <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>TORONTO - The Toronto stock market closed lower Friday as steep declines in the energy, gold and metals sectors took back some of the gains seen earlier in the week, while data showed the U.S. economy was weaker than expected in the first quarter.</p> <p>The S</p> <p>The loonie was up of 0.38 of a cent at 98.34 cents US.</p> <p>New York markets were mixed as the Dow Jones industrial average rose 11.75 points to 14,712.55. The Nasdaq lost 10.73 points to 3,279.26 and the S</p> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130429/tsx-pulled-lower-resources-sectors-weak-us-q1-economic-growt" target="_blank">read more</a></p> Barrick Gold Business Economy of the United States S&P/TSX Composite Index The Canadian Press Mon, 29 Apr 2013 12:40:33 +0000 The Canadian Press 5827593 at http://www.globalpost.com TSX dragged down by falling gold stocks, but lifted on possible Valeant deal http://www.globalpost.com/dispatch/news/the-canadian-press/130525/tsx-dragged-down-falling-gold-stocks-lifted-possible-valeant <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>TORONTO - The Toronto Stock Exchange closed slightly ahead Friday, pulled down by declines in most sectors, particularly gold, but boosted by a 13 per cent spike in shares of Valeant Pharmaceuticals International.</p> <p>The S</p> <p>According to reports, Valeant (TSX:VRX) is close to a $9-billion deal to acquire eye-care company Bausch </p> <p>On Wall Street, markets were mixed after being down for most of the day. The Dow Jones industrials average saw an uptick of 8.60 points to 15,303.10, but the Nasdaq lost 0.28 of a point to 3,459.14 and the S</p> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130525/tsx-dragged-down-falling-gold-stocks-lifted-possible-valeant" target="_blank">read more</a></p> Barrick Gold Disaster Economy of Canada S&P/TSX Composite Index The Canadian Press Fri, 24 May 2013 13:00:53 +0000 The Canadian Press 5845473 at http://www.globalpost.com Canadian miner must obey environmental laws, Chilean says in Ottawa http://www.globalpost.com/dispatch/news/agencia-efe/130530/canadian-miner-must-obey-environmental-laws-chilean-says-ottawa <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agencia EFE </div> </div> </div> <!--paging_filter--><p>Toronto, May 30 (EFE).- Chilean President Sebastian Piñera said Thursday that Canadian mining giant Barrick Gold must comply with all of the Andean nation's environmental laws if it is to continue with its Pascua-Lama project.</p> <p>Piñera commented during a press conference he and Canadian Prime Minister Stephen Harper gave in Ottawa.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.efe.com" class="button wire efe"></a></p> <p><a href="http://www.globalpost.com/terms-use#efe"><span>Copyright EFE, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/agencia-efe/130530/canadian-miner-must-obey-environmental-laws-chilean-says-ottawa" target="_blank">read more</a></p> Barrick Gold Disaster Mining S&P/TSX Composite Index Agencia EFE Thu, 30 May 2013 21:30:05 +0000 Agencia EFE 5849076 at http://www.globalpost.com Chilean president politely reminds Canadian business to follow the law http://www.globalpost.com/dispatch/news/the-canadian-press/130530/chilean-president-politely-reminds-canadian-business-follow- <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>OTTAWA - The president of Chile is politely reminding Canadian business that his country is a democracy governed by laws that will be enforced, a week after a massive Canadian gold mining project was suspended and fined for multiple environmental violations.</p> <p>Sebastian Pinera was on Parliament Hill for a visit Thursday with Prime Minister Stephen Harper at which officials from Canada and Chile signed a number of bilateral trade and investment agreements.</p> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130530/chilean-president-politely-reminds-canadian-business-follow-" target="_blank">read more</a></p> Barrick Gold Business Mining Politics S&P/TSX 60 Index Technology The Canadian Press Thu, 30 May 2013 22:46:22 +0000 The Canadian Press 5849116 at http://www.globalpost.com Barrick says Pascua-Lama will be delayed and cost more after problems http://www.globalpost.com/dispatch/news/the-canadian-press/130605/barrick-says-pascua-lama-will-be-delayed-and-cost-more-after <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>TORONTO - Barrick Gold (TSX:ABX) said Monday that production from its Pascua-Lama project will be delayed past the second half of 2014, as it had previously expected.</p> <p>According to documents filed with U.S. securities regulators, the company also said the delay is expected to result in a higher pricetag for the massive project, which is currently estimated to cost US$8.5 billion.</p> <p>Last month, Chile's environmental regulator blocked Barrick from work on the Pascua-Lama project and imposed its a $16 million fine due to violations of the company's environmental permit.</p> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130605/barrick-says-pascua-lama-will-be-delayed-and-cost-more-after" target="_blank">read more</a></p> Barrick Gold Barrick Gold Disaster Mining S&P/TSX Composite Index The Canadian Press Wed, 05 Jun 2013 19:25:44 +0000 The Canadian Press 5851615 at http://www.globalpost.com Barrick presents 18-month plan to meet Chile's environmental requirements for Pascua-Lama mine http://www.globalpost.com/dispatch/news/the-canadian-press/130613/barrick-presents-18-month-plan-meet-chiles-environmental-req <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>SANTIAGO, Chile - Barrick Gold Corp. says it will take until December 2014 to finish the water management infrastructure demanded by Chile's environmental regulator to revive its $8.5 billion Pascua-Lama mine.</p> <p>The environmental regulator blocked work on Pascua-Lama in May and fined the world's largest gold miner $16 million, citing "very serious" violations of its environmental permit.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130613/barrick-presents-18-month-plan-meet-chiles-environmental-req" target="_blank">read more</a></p> Barrick Gold Disaster Environment Mining S&P/TSX Composite Index Technology The Canadian Press Thu, 13 Jun 2013 05:30:59 +0000 The Canadian Press 5856988 at http://www.globalpost.com Barrick cuts 100 corporate positions, mostly in Toronto, in ongoing streamlining http://www.globalpost.com/dispatch/news/the-canadian-press/130624/barrick-cuts-100-corporate-positions-mostly-toronto-ongoing- <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>TORONTO - Barrick Gold Inc. (TSX:ABX) is laying off about 100 corporate staff, mostly from its Toronto headquarters, as it struggles with falling gold prices and a number of internal challenges.</p> <p>The jobs that are being cut represent about 30 per cent of the total corporate office positions for the Toronto-based mining company, which is the world's largest gold producer.</p> <p>Most of jobs are at Barrick's head office in Toronto, but some are at its regional offices. An email from Barrick's spokesman says staff at a Barrick office in Salt Lake City, Utah, may also be affected.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130624/barrick-cuts-100-corporate-positions-mostly-toronto-ongoing-" target="_blank">read more</a></p> Barrick Gold Business Labor Law Mining S&P/TSX Composite Index The Canadian Press Mon, 24 Jun 2013 15:02:16 +0000 The Canadian Press 5865823 at http://www.globalpost.com Gran Columbia records adjusted net loss of $2.5 million in second quarter http://www.globalpost.com/dispatch/news/the-canadian-press/130815/gran-columbia-records-adjusted-net-loss-25-million-second-qu <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>TORONTO - Gran Colombia Gold Corp. (TSX:GCM) says it logged an adjusted net loss of $2.5 million, or 17 cents per share, in the second quarter.</p> <p>That compares to an adjusted net loss of $7.6 million, or 50 cents per share, in the second quarter of last year.</p> <p>The Toronto-based company had $42.4 million in revenue during the quarter on the sale of 28,419 ounces of gold at an average price of $1,457 per ounce.</p> <p>Gran Colombia also sold 38,572 ounces of silver at an average $23 per ounce.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130815/gran-columbia-records-adjusted-net-loss-25-million-second-qu" target="_blank">read more</a></p> Barrick Gold Mining S&P/TSX Composite Index The Canadian Press Thu, 15 Aug 2013 07:47:12 +0000 The Canadian Press 5910387 at http://www.globalpost.com Barrick Gold Corp. to sell three mines in Australia for $300 million http://www.globalpost.com/dispatch/news/the-canadian-press/130822/barrick-gold-corp-sell-three-mines-australia-300-million <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>TORONTO - Barrick Gold Corp. (TSX:ABX) says it has agreed to sell off three mines in Western Australia known as the Yilgarn South assets to South Africa-based miner Gold Fields Ltd.</p> <p>Barrick says it will receive $300 million from the sale, which is subject to customary closing conditions, including approval by Australia's Foreign Investment Review Board.</p> <p>The company says the three mines that comprise the Yilgarn South assets produced a total of 452,000 ounces of gold in 2012 and a further 196,000 ounces in the first half of this year.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130822/barrick-gold-corp-sell-three-mines-australia-300-million" target="_blank">read more</a></p> Barrick Gold Business Labor Law Mining S&P/TSX Composite Index The Canadian Press Thu, 22 Aug 2013 07:02:12 +0000 The Canadian Press 5915112 at http://www.globalpost.com Barrick sells three Australian gold mines for $300 mn http://www.globalpost.com/dispatch/news/afp/130822/barrick-sells-three-australian-gold-mines-300-mn <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The world's biggest gold producer, the Canadian firm Barrick Gold, is to sell three mines in Australia to South African competitor Gold Fields for $300 million, the companies said. </p> <p>The Granny Smith, Lawlers and Darlot mines produced 452,000 ounces of gold last year and have proven reserves of 2.6 million.</p> <p>The companies hope to complete the transaction October 1.</p> <p>Barrick posted a huge loss of $8.5 billion in the second quarter after depreciating assets. </p> <p>fga/abb/jld/hd</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> Barrick Gold Mining S&P/TSX Composite Index AFP Thu, 22 Aug 2013 11:19:59 +0000 Agence France-Presse 5915271 at http://www.globalpost.com Barrick looking to add independent directors, improve executive pay practices http://www.globalpost.com/dispatch/news/the-canadian-press/130917/reports-say-investors-pushing-changes-barrick-gold-board-inc <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>TORONTO - Barrick Gold Corp. (TSX:ABX) said Tuesday it is working to strengthen its governance practices and is looking to add new independent directors to its board.</p> <p>The gold miner, which has been under pressure from shareholders to make changes, said it is also looking at making improvements to its executive compensation practices.</p> <p>"Progress on these initiatives is expected by the end of the year," Barrick spokesman Andy Lloyd said.</p> <p>Barrick currently has seven independent directors on its 13-member board.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130917/reports-say-investors-pushing-changes-barrick-gold-board-inc" target="_blank">read more</a></p> Barrick Gold Business Labor Law Mining S&P/TSX 60 Index The Canadian Press Tue, 17 Sep 2013 14:09:19 +0000 The Canadian Press 5936149 at http://www.globalpost.com Barrick in talks on further asset sales, no spin-offs http://www.globalpost.com/dispatch/news/thomson-reuters/130924/barrick-talks-further-asset-sales-no-spin-offs <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Allison Martell</p> <p>DENVER (Reuters) - Barrick Gold Corp &lt;ABX.TO&gt; is in talks on further asset sales, with the focus on divesting smaller, higher-cost mines, Chief Executive Jamie Sokalsky told Reuters on Tuesday.</p> <p>Barrick, the world's largest gold producer, announced a deal last month to sell three of its high-cost mines in Australia for $300 million. The company is looking to improve returns in the face of weaker metal prices and ballooning costs.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130924/barrick-talks-further-asset-sales-no-spin-offs" target="_blank">read more</a></p> Barrick Gold Economy of Canada Mining Thomson Reuters Tue, 24 Sep 2013 19:46:55 +0000 Thomson Reuters 5943495 at http://www.globalpost.com