Key Developments: Barrick Gold Corp (ABX)

ABX on New York Consolidated

11.22USD
9 Feb 2016
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Latest Key Developments (Source: Significant Developments)

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

Barrick Gold Corp announces processing restrictions at Veladero lifted
Friday, 25 Sep 2015 07:53am EDT 

Barrick Gold Corp:Announced that restrictions on processing activities at the Veladero mine in San Juan province, Argentina, have been lifted.Says Barrick immediately implemented a comprehensive downstream water monitoring program.Does not anticipate any material impact to production at Veladero as a result of this incident.An investigation into the root causes of incident remains underway.Series of additional preventative measures and controls have been implemented at leach pad to ensure it is safe to resume full operations.Says monitoring confirmed that there are no risks to the health of downstream communities as a result of this incident.  Full Article

Argentina suspends gold leaching at Barrick Gold Corp mine after cyanide leak - Reuters
Wednesday, 16 Sep 2015 08:00pm EDT 

Barrick Gold Corp:An Argentine judge on Thursday said he ordered a five-day suspension of the gold leaching process at Barrick Gold Corp's Veladero mine to check if there was any environmental damage from a cyanide leak triggered by a faulty valve - Reuters.A Barrick spokesman said that at this time, there was no material impact to production to report - Reuters.Oritja said the measure was to ensure that production at Veladero, one of the largest gold mines in Argentina, was safe - Reuters.Barrick's Argentine unit said on Wednesday that it had detected no contamination in surrounding rivers since the leak happened over the weekend - Reuters.The company said the faulty valve had been replaced and there had been no threat to the health of its workers or the local community - Reuters.Nonetheless it had launched an investigation to determine the root cause of the valve failure and was monitoring the quality of water in the area - Reuters.  Full Article

Barrick Gold Corp suffers small cyanide spill at Veladero mine in Argentina - Reuters
Sunday, 13 Sep 2015 08:00pm EDT 

Barrick Gold Corp:A pipe carrying cyanide at Barrick Gold Corp's Veladero gold mine suffered a valve failure and small leak that led to a brief disruption to operations, the company said on Monday - Reuters.Barrick said in a statement the incident occurred on Sunday and that there was no threat to surrounding rivers or its workers' health from the spill - Reuters.A company source said a faulty valve had been replaced and that the incident was being investigated - Reuters.  Full Article

Barrick Gold Corp completes formation of strategic joint venture at Porgera
Monday, 31 Aug 2015 05:40am EDT 

Barrick Gold Corp:Says that it has completed the formation of a strategic joint venture with Zijin Mining Group Co. Ltd, including the sale of a 50 percent interest in Barrick (Niugini) Limited, for a total cash consideration of $298 million.Proceeds from the transaction will be used to repay debt.  Full Article

Barrick Gold Corp to reduce quarterly dividend
Monday, 10 Aug 2015 03:00am EDT 

Barrick Gold Corp:Says that it has decided to reduce the company's quarterly dividend by 60 percent, from five cents per share to two cents per share.The Board believes this reduction is a prudent measure to increase financial flexibility in light of current market conditions.Says the dividend will be paid on Sept. 15, 2015 to shareholders of record at the close of business on Aug. 31, 2015.  Full Article

UPDATE 1-Zambia's 2015 copper output up despite power woes, weak prices

LUSAKA, Jan 22 Zambia's copper production inched higher to 711,515 tonnes in 2015 from 708,000 tonnes the previous year mainly due to a new mine owned by Canada's First Quantum Minerals, the Chamber of Mines said on Friday.

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