Barrick Gold Corporation (TSX:ABX)

Mining

Barrick Gold Corporation is a major Canadian gold and copper mining enterprise, known to have operations around the world.

Presently headquartered in Toronto, Canadian entrepreneur Peter Munk founded the company in 1983.

Barrick is listed on the New York Stock Exchange and the Toronto Stock Exchange under the tickers ‘GOLD’ and ‘ABX’, respectively.

The gold mining firm says it generates value by focusing on Tier 1 gold mines and investing in prolific gold districts globally.

Barrick’s each mining unit is equipped with a team that oversee the business, health and safety of workers and community management.

Its diversified portfolio includes gold and copper operations in:
• Nevada Gold mines

• Bulyanhulu

• North Mara

• Lumwana

• Porgera

• Tongon

• Veladero

• Zaldivar

• Kibali

• Hemlo

Nevada Gold Mines, operated by Barrick, is a joint venture between Newmont and Barrick Gold Corporation with 38.5 per cent and 61.5 per cent interest, respectively. It includes the company’s three Tier 1 gold assets: Carlin, Turquoise Ridge and Cortez.

Bulyanhulu Mine, located in northwest Tanzania, commenced operations in 2001. It is a narrow-vein gold mine comprising copper, gold and silver deposits.

Buzwagi is situated approximately 97 kilometres from Bulyanhulu mines in Tanzania. The mine commenced commercial operations in 2009 and is presently processing only stockpiles. Earlier, this mine operated as a low-grade quartz-veined deposit.

The Jabal Sayid mine, primarily focused on copper operations, is located approximately 350 kilometres northeast of Jeddah in Saudi Arabia. It is a joint venture with Ma’aden, a Saudi Arabian diversified mining firm. It commenced commercial operations of copper concentrates in 2016.

Barrick operates the Kibali gold mine located in the Democratic Republic of Congo. The mine is a joint venture between Barrick and AngloGold Ashanti with a 45 per cent stake and Société Miniére de Kilo-Moto (SOKIMO) with 10 per cent interest. It is owned by Kibali Goldmines SA.

The company claims to endorse Responsible Gold Mining Principles, a framework devised to address ESG issues for the gold mining sector. On a pilot basis, the framework was implemented at Hemlo and Kibali mines.