Barrick

Barrick Gold Gold Just as we are about to resolve the long-term dispute with the Mali military government regarding the reform of mining regulations in the country. Looking to maximize national revenue, the government requires foreign operators to receive higher royalties and more profits.

Things have gradually worsened since 2023, leading to a standoff with Barrick Loulo-Gounkoto Complex is one of the largest gold mines in Mali.

The junta seeks additional payments, detains Barrick’s employees and issues arrest warrants to the CEO Mark Bristol. But when they grabbed the gold cargo last month, Barrick stopped operations of the complex, causing management to lower the company’s production guidelines to 3.2 million to 3.5 million ounces.

The suspension of the action hurt Barrick’s bottom line and cost Mali millions of dollars in revenue. According to the latest data, the country’s gold production fell 23% in 2024.

Still, according to Reuters, Barrick found common ground and signed a new deal. The deal reportedly included payments of $438 million in exchange for the release of detained employees, the return of confiscated gold and the recovery of operations in Lulo Gunkoto.

Despite the progress, the situation remains uncertain until the Malian authorities sign the agreement. Despite the increasing uncertainty of Mali and emerging markets, Barrick continued to invest heavily and completed feasibility studies on two large-scale projects.

this Lumwana extension Zambia’s project aims to transform the mine into a top copper producer. The mine’s proven and possible reserves have grown by 180% since 2023, with total reserves currently at 1.6 billion tons and a grading of copper of 0.52%.

The expansion will extend Lumwana’s operating life by 17 years to 2057 and increase its processing capacity to 54 million tons per year. It is expected to reach 240,000 tons of copper production each year, placing it among the top 25 copper mines in the world.

Meanwhile, feasibility study on Pakistani copper gold Reko diq The project shows that the 3.9 billion tons of copper is 0.43%, with about 29 million ounces of gold.

By 2028, the initial production phase is targeting 45 million tons of ore per year, and the capacity is planned to be expanded to 90 million tons per year by 2034. The initial investment was $5.6 billion, with an additional $3.3 billion allocated for expansion.

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