Barrick Gold Corporation
Barrick Gold Corporation
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Australian-based miner Troy Resources has joined Guyanese authorities to investigate the baffling death of an employee at its recently acquired Potaro tenements 20km S of its Karouni mill, the subject of an earn-in JV agreement signed in July with Barrick Gold.
Troy says it appears the employee suffered a head injury from hitting a tree while walking through the rainforest on a routine patrol. An autopsy will be carried out to determine the cause of death.
Lower gold/copper production has seen global miner Barrick Gold’s June 2021 qtr (Q2 21) net earnings plunge to $US411M from Q1 21’s $538M, but with adjusted net earnings up to $513M from $507M.
Global gold major Barrick Gold’s July 2021 qtr (Q2 21) gold production eased to 1.04Moz from Q1 21’s 1.1Moz with planned maintenance shutdowns at Nevada Gold Mines’ processing facilities were further impacted by a mechanical mill failure at Carlin’s Goldstrike roaster, along with planned maintenance at Pueblo Viejo.
Gold sales followed to 1.07Moz from 1.09Moz.
Mali’s Morila mine, once one of the world’s highest grade gold producers for majors Barrick Gold and AngloGold Ashanti, has passed a significant operation milestone with the successful first production blast for new owner Firefinch by contractor EGTF.
The well-established geological similarities between the West African Birimian and the Guiana Shield in South America have attracted global major Barrick Gold to take up the gold search on a package of exploration tenements held by Troy Resources at its Karouni project in Guyana.
The earn-in agreement excludes Australian-based Troy’s Karouni minesite and its immediate area.
Global gold major Barrick Gold, which majority-owns/operates 5 of the world’s 10 largest gold mines, has posted net earnings for the Mar 2021 qtr (Q1 21) down to $US538M from Q4 20’s $685M and adjusted net earnings to $507M from $616M.
Most of the major pointers to the company’s Q1 21 performance were down -- net cash from operations to $1,302M from $1,638M, free cash flow to $763M from $1,092M and debt, net of cash, out to $519M from debt of $33M.
Australian-based Firefinch has outlined higher production for longer in a new life of mine plan for the Morila gold project in western Mali that it acquired as a worked-out deposit from majors Barrick Gold and AngloGold Ashanti for $US29M six months ago.
Barrick Gold is set to begin ore delivery from the third underground mine at its giant 80%-owned Loulo-Gounkoto gold complex in western Mali after reaching its first mining level.
Loulo-Gounkoto produced 193,014oz gold in the March qtr (Q1) and is on track for FY2021 guidance of 640,000-700,000oz, matching its FY2020 production of 680,215oz.
Australian-based miner Firefinch has made a major step towards the resumption of mining at its 80%-owned Morila Superpit in Mali with the start of dewatering the site that produced 7.5Moz gold for former owners Barrick Gold and AngloGold Ashanti between 2000 and 2020.
Since completing the $US28.9M acquisition of the mine 6 months ago, Firefinch has ramped up production through its 4.5Mtpa mill initially from tailings retreatment and moving on shortly to satellite openpits and stockpiles.
Miner Barrick Gold says Papua New Guinea PM James Marape is to make an imminent agreement to reopen the disputed Porgera Gold Mine a year after it was shut, Reuters reports.