Barrick Gold Corp (ABX.TO) Key Developments | Reuters.com
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Barrick Gold Corp (ABX.TO)

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Latest Key Developments (Source: Significant Developments)

Rugby Mining acquires gold portfolio in Colombia
Wednesday, 1 Jun 2016 06:00am EDT 

Rugby Mining Ltd : Rugby acquires extensive gold portfolio in Colombia . Acquired 100% of issued and outstanding common shares of Barrick subsidiary for nominal cash consideration . No residual rights to subsidiary or Colombian properties were retained by Barrick .Acquired portfolio of granted exploration concessions, applications covering about 845 square kms in Colombia by buying unit of Barrick Gold.  Full Article

Barrick Gold Corp ot face US group lawsuit over LatAm mine - Reuters News
Thursday, 24 Mar 2016 02:07am EDT 

Barrick Gold Corp:A federal judge on Wednesday granted class certification for a U.S. class-action lawsuit filed against Barrick Gold Corp claiming Barrick misstated facts of its now halted Pascua-Lama gold-mine project on the border of Argentina and Chile. - RTRS.The class certification means the world's largest gold producer will have to face the U.S. lawsuit. U.S. District Judge Shira Scheindlin in Manhattan said that shareholders who purchased Barrick shares from May 7, 2009 through Nov. 1, 2013 are a part of the class-action lawsuit.Investors who bought Barrick's common stock during this period have said Barrick touted Pascua-Lama as a world-class project even as it became clear that the project would fall short of expectations.Barrick bought the untapped Pascua-Lama mine in 1994, and had been counting on it to generate a large percentage of its overall gold production.But cost overruns, environmental issues and falling bullion prices, among other issues contributed to the company's decision on Oct. 31, 2013 to indefinitely halt the project.Class action lawsuits can lead to larger damages or broader remedies than individual lawsuits that can be costly to pursue.  Full Article

Barrick Gold Corp says Catherine Raw to succeed Usmar as CFO - Reuters News
Wednesday, 16 Mar 2016 05:22pm EDT 

Barrick Gold Corp:Shaun Usmar, senior executive vice president and chief financial officer, will be leaving - RTRS.Catherine Raw, currently executive vice president, business performance, will succeed Usmar as chief financial officer immediately.Usmar will be available in an advisory capacity for two months following annual meeting to support a seamless transition.  Full Article

Barrick Gold Corp - Argentine province fines Barrick $9.8 mln for cyanide spill - Reuters News
Friday, 11 Mar 2016 04:05pm EST 

Barrick Gold Corp:Argentina's San Juan province fined Barrick Gold Corp 145.7 million pesos ($9.82 million) on Friday for mining code breaches that led to a cyanide spill at the company's Veladero mine in September, a provincial government statement said - RTRS.The Sept. 13 leak was caused by a defective valve and prompted a court order that forced Barrick to temporarily halt pumping the cyanide solution used in the leaching process."With this fine we are protecting the development of mining activities in the province," said Sergio Unac, the governor of San Juan province where the Veladero mine is located.In a statement posted on the company's website, Barrick President Kelvin Dushnisky said: "We recognize that we have disappointed many of our partners in San Juan province and we deeply regret this incident.".Earlier this week, a judge in the western province accepted charges against nine current and former Barrick employees in connection with the spill.State-run news agency Telam cited Unac saying that Barrick committed mining code violations, including a failure to ensure safety rules, comply with monitoring and contingency plans and report the incident to the local authority.Dushnisky said controls and safeguards at the mine had been strengthened since the spill. Tests by U.N. investigators in October showed that the spill had not contaminated local water supplies.  Full Article

Barrick Gold Corp announces dividend
Wednesday, 17 Feb 2016 01:50pm EST 

Barrick Gold Corp:Board of Directors has declared a dividend for the quarter of US 2 cents per share.Payable on March 15 to shareholders of record date as on February 29.  Full Article

Barrick Gold Corp completes sale of non-core assets in Nevada to Kinross for $610 Million
Monday, 11 Jan 2016 05:00pm EST 

Barrick Gold Corp:Announced that it has completed the sale of the company's 50 percent interest in the Round Mountain mine and 100 percent of the Bald Mountain mine to Kinross Gold Corporation.  Full Article

Barrick Gold Corp announces credit facility extension and amendment
Thursday, 3 Dec 2015 05:21pm EST 

Barrick Gold Corp:Announces credit facility extension and amendment.Says also amended the credit facility's key financial covenant.Says extended the termination date on the majority of fully undrawn $4 billion revolving credit facility from January 2020 to January 2021.Says approximately $3.6 billion of the $4 billion available under the credit facility now terminates in January 2021.Says on track to meet its stated debt reduction target of $3 billion for 2015.Under new financial covenant, Barrick will now be required to maintain a net debt to total capitalization ratio of less than 0.60.Says Barrick will now be required to maintain a net debt to total capitalization ratio of less than 0.60.Proposed, and lenders agreed, to replace financial covenant requireing co to maintain minimum tangible net worth of at least $3 billion.  Full Article

Barrick Gold Corp sale of non-core assets for $720 mln
Thursday, 12 Nov 2015 07:30am EST 

Barrick Gold Corp:Announces sale of non-core assets for $720 million.Says company is on track to meet its stated debt reduction target of $3 billion for 2015.Reached agreement to sell co's 50 percent interest in round mountain mine;100 percent of bald mountain mine to Kinross Gold Corporation.Says Barrick has also reached an agreement to sell the company's 70 percent interest in the spring valley project.Says each company will own 50 percent of the joint venture.To sell 70 percent interest in spring valley project,100 percent interest in ruby hill mine to units of waterton precious metals fund II cayman.To sell 70 percent interest in spring valley project,100 percent interest in ruby hill mine to units of waterton for $110 million.  Full Article

Barrick Gold Corp declares dividend for the quarter
Wednesday, 28 Oct 2015 03:32pm EDT 

Barrick Gold Corp:Declares dividend for the quarter of US 2 cents per share.Payable on Dec. 15 to shareholders of record at the close of business on Nov. 30.  Full Article

Barrick Gold Corp closes innovative gold and silver streaming transaction with Royal Gold
Tuesday, 29 Sep 2015 05:05pm EDT 

Barrick Gold Corp:Says closed gold and silver streaming transaction with RGLD Gold AG, a wholly-owned subsidiary of Royal Gold Inc for production referenced to Barrick's 60 percent interest in the Pueblo Viejo mine.Barrick has received an upfront cash payment of $610 million and will receive continuing cash payments for gold and silver delivered under the agreement.  Full Article

BRIEF-Rugby Mining acquires gold portfolio in Colombia

* Acquired 100% of issued and outstanding common shares of Barrick subsidiary for nominal cash consideration