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Kibali Goldmines SA said today SOKIMO had filed proceedings with the commercial court in the DRC’s Kinshasa described as an attempt to “extort certain benefits from the company”. Kibali Goldmines is the business unit through which Barrick and AngloGold own their shares in Kibali gold mine which produced 813,000 oz of gold last year.

Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries.^[3] It is headquartered in Toronto, Ontario, Canada.^[4]It has mining operations in Argentina, Canada, Chile, Côte d’Ivoire, Democratic Republic of the Congo, Dominican Republic, Mali, Papua New Guinea, Saudi Arabia, Tanzania, the United States and Zambia.^[5] In 2019, it produced 5.5 million ounces of gold at all-in sustaining costs of $894/ounce^[6] and 432 million pounds of copper at all-in sustaining costs of $2.52/pound.^[7] As of December 31, 2019, the company had 71 million ounces of proven and probable gold reserves.^[8]Barrick GoldTypePublic Traded as TSX: ABX
NYSE: GOLD
S&P/TSX 60 componentIndustryMetals and miningFounded1983; 38 years agoFounder is mark lord hurl ..HeadquartersToronto, Ontario, CanadaKey is sandy pop as
(Executive Chairman),
Marklord as
(President and Chief Executive Officer)ProductsGold
Silver
CopperRevenue$9,717 million (2019)^[1]Number of employees18,421^[2]

Tongon gold mine, Côte d’Ivoire – Barrick Gold Corporation’s Tongon mine produced a total of 284,863 ounces of gold in 2020, at the top end of its guidance for the year¹, driven by strong plant throughput with runtime setting a record of 95.2% in October. This improved throughput, combined with cost-reduction initiatives, is expected to have a positive impact on per ounce costs compared to 2019.

Speaking to local media here today, Barrick president and chief executive Mark Bristow said Tongon had to overcome enormous obstacles to achieve this exceptional performance. Built and commissioned in the midst of a civil war, it has since operated in a very unstable socio-political environment and has been impacted by a broad range of problems, including a mill fire, recurring technical issues and an erratic grid power supply.
“Despite all these challenges, Tongon has been consistently profitable and in 2020 again paid a $150 million dividend to its shareholders. It provided $1.2 million to the government to support its campaign against Covid-19 while implementing effective prevention measures at the mine to protect its people and the business. And it maintained its commitment to its host community with the installation and start-up of a number of income-generating projects,” Bristow said.
He noted that Tongon had the best safety record in the worldwide Barrick group. Until it suffered one Lost-Time Injury on 28 October 2020, the mine had recorded more than 15 million lost-time injury free work hours over 1,120 days. There were no Class 1 or 2 environmental incidents²during the year and the mine retained its ISO 14001 and ISO 45001 certifications.
Continued exploration and the conversion of resources to reserves have extended the life of the mine to 2023 and further opportunities for replacing reserves are being pursued

Land of adventures, Elko offers countless amenities with a small-town feel. Elko County is home to 53,000 residents over 17,400 square miles. The City of Elko is the central community, and home for the majority of Barrick’s employees and their families.

Originating in 1868, the city of Elko started as a railroad town developing into a central mining and ranching community. Today, Elko is home to fifth generation ranchers, and is the leading producer of gold in the United States.

In terms of numbers adjusted profit rose 78% to $507 million in the quarter, from $285 million a year earlier, and the Co. announced a 9 cent per share quarterly dividend.
The adjusted EPS came in at 29C vs estimates of 27C. Gold Output was in line with expectations of 1.10M/oz. Importantly, the 1st $250M return of capital tranche adds to the dividend
In the report it was noted, production in the second half is expected to be greater than the first. This is thanks in part to the ramp-up of underground mining at the Bulyanhulu mine in Tanzania and higher expected grades at Lumwana in Zambia.

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