US$1B share buyback announced
Barrick Gold has reported a net profit of US$2.1 billion for 2024 on revenues of $12.9 billion, a 69% increase over 2023, largely due to higher metals prices. The company achieved an earnings per share of $1.22 compared with 72c in the prior year.Gold production fell by 4% to 3.9Moz, while copper production increased by 2% to 195,000t compared with 2023, while the average price realised for gold increased by 23% to $2397/oz, while the average realised copper price increased by 8% to $4.15/lb.
74 billion shares outstanding down by almost 1% from the 1.75 billion at the end of 2023."Barrick remains focused on sustainable value creation for all our stakeholders and as our results today clearly demonstrate, we have the asset quality, balance sheet strength and organic growth projects to deliver on our vision well into the future," said Barrick Gold chief executive Mark Bristow.The company reported net earnings of $996 million for the December 2024 quarter on revenues of $3.
Mark Bristow Loulo-Gounkoto Lumwana Share Buyback
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Barrick Gold Suspends Operations in Mali After Government Seizes GoldBarrick Gold has temporarily halted mining operations in Mali following the government's seizure of approximately US$245 million in gold reserves from the Loulo-Gounkoto complex. The Malian government moved the gold to a custodial bank, preventing Barrick from shipping and selling it. This action stems from ongoing disputes between Barrick and the junta-led government regarding Mali's new mining code. Barrick shares declined following the news, while Resolute Mining, another company facing challenges in Mali, saw its shares rise.
Read more »
Barrick continues to grow reservesBarrick Gold has reported its reserves and resources statement for 2024, which shows a 23% increase in attributable reserves, some 17.4Moz, before 2024 depletion. The company has yet to report its 2024 production, but it produced 4.8Moz in 2023.
Read more »
Kodal Minerals Power Plant Operational in Mali as Barrick Gold Dispute EscalatesKodal Minerals' power plant at the Bougouni lithium project in Mali is operational, enabling the company to begin commissioning its DMS plant. Lithium spodumene production is expected in Q1 2024. Meanwhile, a dispute between Barrick Gold and the Malian government intensifies, with the government accusing Barrick of owing over US$500 million in unpaid taxes.
Read more »
Hummingbird Resources Reaches Agreement with Mali Government, Barrick Suspends OperationsHummingbird Resources has successfully negotiated a settlement with the Mali government regarding tax matters and secured operational agreements for its Yanfolila gold mine. Meanwhile, Barrick Gold has halted all operations in the country after the government seized its gold stocks.
Read more »
Barrick CEO Bristow: Mali Dispute Could Impact West Africa InvestmentBarrick Gold CEO Mark Bristow warns that the ongoing dispute between the company and the Malian government could deter investment in West Africa. Bristow highlights the importance of a transparent and equitable relationship between mining companies and governments for attracting investment and fostering development in emerging economies.
Read more »
Qualcomm and Arm report strong sales growth on rising smartphone demandQualcomm and Arm, backed by SoftBank, both reported strong quarterly sales growth thanks to better-than-expected smartphone demand. Qualcomm exceeded revenue expectations, while Arm met forecasts. Both companies see opportunities in AI features for smartphones and other devices.
Read more »