Key Developments: Barrick Gold Corp (ABX)

ABX on New York Consolidated

5 Oct 2015
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Latest Key Developments (Source: Significant Developments)

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

Barrick Gold Corp lowers FY 2015 production guidance
Wednesday, 5 Aug 2015 05:18pm EDT 

Barrick Gold Corp:Sees FY 2015 gold production to be 6.1-6.4 million ounces, reflecting the impact of asset sales.  Full Article

Barrick Gold Corporation to sell 50 percent of zaldívar mine
Thursday, 30 Jul 2015 04:22pm EDT 

Barrick Gold Corporation:Announces sale of 50 percent of zaldívar mine, formation of new partnership with Antofagasta Plc.Says deal valued at $1.01 billion.Says Antofagasta will pay Barrick $980 million in cash upon closing.Says Antofagasta will act as the operator of the mine and will be subject to oversight and direction by the board.Antofagasta will pay $25 million in additional cash payments over the next five years for a 50 percent stake in the zaldivar mine.Initial chairman of the board will be appointed by Antofagasta and will hold the office of chairman until January 1, 2017.  Full Article

Barrick Completes Divestiture of Cowal Mine
Thursday, 23 Jul 2015 05:10pm EDT 

Barrick Gold Corporation:Completed the divestiture of its Cowal mine in New South Wales, Australia to Evolution Mining for a total cash consideration of $550 million.Proceeds from the sale of Cowal will be used to repay debt.  Full Article

Barrick Gold Corporation announces strategic partnership with Zijin Mining Group
Tuesday, 26 May 2015 06:07am EDT 

Barrick Gold Corporation:Formed a strategic partnership with Chinese mining company Zijin Mining Group Co., Ltd (Zijin).Says as a first step, Zijin will acquire 50 percent of Barrick (Niugini) Limited (BNL), the company which owns 95 percent of and manages the Porgera Joint Venture gold mine in Papua New Guinea.Says in addition, Barrick and Zijin have signed a long-term strategic cooperation agreement which outlines the intent of both companies to collaborate on future projects and joint investments, leveraging the strengths of each company.Says Zijin Will Pay $298 Million In Cash For A 50 Percent Interest In BNL.Transaction is expected to be completed in the third quarter of 2015.Under the new structure, Barrick and Zijin will jointly control BNL, and BNL will have a joint Barrick-Zijin Board of Directors consisting of three Barrick nominees and three Zijin nominees.  Full Article

Water not contaminated after cyanide spill at Barrick's Veladero-UN

BUENOS AIRES, Oct 1 - A cyanide solution spill at Barrick Gold Corp's Veladero mine in western Argentina did not contaminate local water supplies, preliminary tests by U.N. investigators showed.

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