News Articles for Barrick Gold

Gina Rinehart has positioned Hancock Prospecting among the next consortium of firms competing for Saudi exploration licences.

Perenti's underground mining services contractor Barminco has secured its inaugural US-based contract, valued at approximately $120 million.

Dateline Resources has wrapped a net present value of US$235m around its Colosseum gold project in California that is set to churn out 635,000 ounces over 8.3 years at an AISC per ounce of US$1490. That number compares favourably to today's gold price US$2752 an ounce or AUD$4121 an ounce. Dateline will bank a total of US$1.344b in sales over the life of mine with about US$400m of that dropping to the bottom line.

Morocco is the best-ranked country while Zimbabwe is the worst in the latest Africa Risk Reward Index produced by consulting firm Control Risks and Oxford Economics.

Dateline Resources drilling has reeled in two giant hits going 1g/t gold, including a richer zone of 10.7m of 8.17g/t, as it works to bring its Colosseum project in California back into production. The company says its first two diamond drillholes show 203.6m grading 1.03g/t gold and 192m running at 1g/t, confirming the potential for expanded mineralisation at the site.

Perenti subsidiary Barminco will extend its relationship with Barrick Gold Corporation at the historic Hemlo gold mine in Canada, under a contract worth more than $200 million.

Aurum Resources has launched a scoping study to assess the development potential of its Boundiali gold project in Côte d'Ivoire after locking in metallurgical experts in a push to deliver a resource estimate by year's end. After a recent raft of high-grade hits and strong metallurgical test results, the appointments also signal the next step in pushing the project quickly towards a prefeasibility study.

In this week's edition of Bulls N' Bears Big Hits, we unravel some of the most curious drill intersections revealed on the ASX, including Warriedar Resources' stunning gold hit of 4m at 14.49g/t. We also take a close look at other notable drill hits in the past week from Ora Gold, Australian Gold and Copper, Dateline Resources and Patriot Battery Metals.

Gold Mountain has run the rule over its Wabag project in Papua New Guinea, with a data overhaul uncovering the core of at least three porphyry systems that may host substantial copper-gold deposits. The company says the review suggests there may be multiple centres of porphyry-style mineralisation through 7km of strike in an arc parallel to the direction of its main copper anomalies.

A South Australian mining tech firm revolutionising the centuries-old method of assaying gold is working to bed down its foothold in the global gold industry.

Thunderbird Resources has assembled a surprising array of interesting-looking uranium and lithium targets in some of the hottest mineral territories in the world, including Canada's Athabasca uranium basin. The Athabasca basin is remarkable for its average uranium grades of about 2 per cent and its massive-scale deposits – and Thunderbird appears to have picked the eyes out of it.

Shares in Aurum Resources jumped more than 30 per cent this morning after it recorded a whopping 73m intercept going 2.15g/t gold from 172m at its Boundiali project in the West African nation of Côte d'Ivoire. The impressive drill hit contained several high-grade sections, with highlights showing a 4m segment grading 18.63g/t gold from 185m including 1m at a staggering 72.11g/t from 188m.

Assays from the first eight diamond drill holes at Aurum Resources' Boundiali gold project in Côte d'Ivoire, West Africa suggest wide, shallow gold mineralisation with more assays on the horizon. The best results were 16m at 1.24 grams per tonne from 117m including a 6m thick section grading 2.44g/t from 127m, 7.39m at 1.94g/t from 139.34m including 5.35m at 2.53g/t from 141.37m.

Aurum Resources has completed its acquisition of PlusOr Global and now officially owns ground in Africa's Côte d'Ivoire, where historic drill hits have run as high as 1m at a massive 30.8g/t gold from 42m. The company says diamond drilling at the project is underway and 29 holes have been completed across three targets for 4592m of core, with assays due back next month.

Engineering services company Lycopodium has locked in a $19 million contract from Canadian miner Barrick Gold Corporation for work on its copper mine in Zambia.

Aurum Resources is set to take its gold search to a new continent after signing a binding agreement to acquire PlusOr Global, which holds the rights to earn into the Boundiali gold project in Côte d'Ivoire. The project on the southern coast of West Africa covers two contiguous granted exploration permits within Côte d'Ivoire's prospective Boundiali greenstone belt.

Having recently pivoted into an emerging lithium hotspot in Brazil, Gold Mountain is promptly exploring its significant package of tenements as it eyes its first drilling program by the year's end. The company's exploration to date has identified 250 pegmatites, with multiple soil and rock-chip sample results pending. Gold Mountain is just starting its lithium climb.

Valor Resources has entered into a binding agreement with Firetail Resources to offload an 80 per cent interest in its Peruvian copper assets for an upfront cash payment of $750,000 and 15 million shares in the junior explorer. The raised funds will be used to accelerate Valor's uranium hunt in Canada's world-class Athabasca Basin at a time of rising uranium prices and surging investor interest.

ASX-listed Valor Resources has signed an earn-in agreement with global copper and gold producer Barrick Gold Corporation at its Charaque project in Peru. Under the deal, Barrick has a five-year option to acquire 70 per cent of the operation for a cash payment of $1.2 million. Valor says the agreement allows it to focus on the upcoming drill campaign at its flagship Picha copper project.

Engineering services company Lycopodium has secured a $55 million deal for the study and scope of Barrick Gold Corporation's Reko Diq copper-gold project.

Business News has tracked dramatic changes in the ranking of WA's largest goldminers over more than a decade.

A multi-billion-dollar merger has brought a change at the top of Business News' list of goldminers.

Perth-based Mader Group will provide heavy maintenance equipment services to Nevada Gold Mines under a new contract.

After a rocky start to the year, confidence in WA's gold sector is driving economic activity, with investment and exploration up.

Subiaco-based Mali Lithium is set to become a gold producer after announcing it will buy out Barrick Gold and AngloGold Ashanti's stake in a West African mine.

Perenti Global subsidiary Barminco has received a letter of intent from Canada-based Barrick Gold to provide underground mining services at the Hemlo mine in north western Ontario, under a proposed

Barrick Gold has resolved a three-year tax dispute with the Tanzanian government, which has lifted a ban on minerals exports, potentially providing a pathway to production for a contingent of Western Australia-headquartered miners and exploration firms.

Azure Capital, Canaccord Genuity and DLA Piper were among the most active advisers on corporate finance deals in 2019.

Saracen Mineral Holdings confirmed today it has agreed to buy a 50 per cent stake in Kalgoorlie's famous Super Pit gold mine with managing director Raleigh Finlayson saying the asset has already delivered positive surprises.

Northern Star Resources and Evolution Mining have emerged as the main contenders to acquire Barrick Gold's share in the historic Kalgoorlie Super Pit.

The state's gold miners are positioning themselves to take advantage of the commodity's surging value.

SRG Global has secured an $18 million contract with Kalgoorlie Consolidated Gold Mines, less than a week after it announced it won up to $115 million worth of drill-and-blast services contract extensions with Evolution Mining.

ANNIVERSARY SPECIAL: WA's mining industry has undergone a dramatic transformation over the past quarter of a century, with iron ore replacing gold as the state's most valuable commodity.

Ian Murray has been appointed non-executive chairman of gold producer Gascoyne Resources, two months after announcing his retirement from Gold Road Resources.

SPECIAL REPORT: WA's 30 gold miners achieved a small increase in aggregate output last year with the state's biggest producer, Newmont Mining, making up about a sixth of this at 1.1m ounces, research by Business News has found.

Gold miner AngloGold Ashanti has poached one of the top executives from rival Barrick Gold to replace outgoing chief executive Srinivasan Venkatakrishnan.

Global miner Barrick Gold has announced a deal with the Tanzanian government that involves a 50:50 sharing of benefits from its operations in the country, prompting sharp price movements in local stocks exposed to the region.

SPECIAL REPORT: The gold royalty hike proposed in this month's state budget has stunned the sector, amid big spending plans for the year ahead.

A Supreme Court ruling handed down this week casts doubt on how the state government has calculated stamp duty on mining company takeovers, potentially overcharging miners tens of millions of dollars over more than a decade.

The Chinese company angling to buy a 50 per cent stake in the Kalgoorlie super pit has reportedly dropped the $US1.3 billion bid due to more rigid Chinese controls on capital outflows, while its bid to buy Southern Cross gold mine owner Hanking Australia has been completed.