Barrick Mining Corp
F:ABR0
Barrick Mining Corp
Barrick Mining Corp. engages in the production and sale of gold, copper, and related activities. The company is headquartered in Toronto, Ontario. The company has ownership interests in producing gold mines that are located in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Papua New Guinea, Tanzania and the United States. Its copper mines are located in Zambia, Chile and Saudi Arabia. Its operations include Nevada Gold Mines, Bulyanhulu, Hemlo, Jabal Sayid, Kibali, Loulo-Gounkoto, Lumwana, North Mara, Porgera, Pueblo Viejo, Tongon, Veladero and Zaldivar. Its Bulyanhulu operation is located in north-west Tanzania, over 55 kilometers (km) south of Lake Victoria and 150 km southwest of the city of Mwanza. The Jabal Sayid copper operation is located 350 km north-east of Jeddah in the Kingdom of Saudi Arabia. The Lumwana copper mine is a conventional open pit operation.
Barrick Mining Corp. engages in the production and sale of gold, copper, and related activities. The company is headquartered in Toronto, Ontario. The company has ownership interests in producing gold mines that are located in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Papua New Guinea, Tanzania and the United States. Its copper mines are located in Zambia, Chile and Saudi Arabia. Its operations include Nevada Gold Mines, Bulyanhulu, Hemlo, Jabal Sayid, Kibali, Loulo-Gounkoto, Lumwana, North Mara, Porgera, Pueblo Viejo, Tongon, Veladero and Zaldivar. Its Bulyanhulu operation is located in north-west Tanzania, over 55 kilometers (km) south of Lake Victoria and 150 km southwest of the city of Mwanza. The Jabal Sayid copper operation is located 350 km north-east of Jeddah in the Kingdom of Saudi Arabia. The Lumwana copper mine is a conventional open pit operation.
Record Quarter: Barrick reported record results in Q3, including all-time highs for adjusted earnings per share, operating cash flow, and free cash flow.
Production Growth: Gold production increased 4% from Q2, driven by higher grades and throughput at major sites; copper production was slightly down due to planned maintenance.
Cost Improvements: Lower costs per ounce, even with higher royalties from increased gold prices, supported strong margin expansion.
Shareholder Returns: The company increased its base dividend by 25% and executed a record quarterly cash return to shareholders through dividends and buybacks.
Operational Review: A comprehensive review of operations is underway, focusing on stabilizing performance, improving maintenance planning, and prioritizing safety after three fatalities.
Asset Sales & Buybacks: Asset sales are funding an expanded buyback program with a new $1.5 billion authorization; Hemlo and Tongon sales are expected to close by year-end.
Guidance Affirmed: Both gold and copper are tracking within their full-year production and cost guidance ranges.
Fourmile Discovery: Fourmile is highlighted as one of the century's most significant gold discoveries, with drilling activity and investment ramping up.
