Barrick Mining Corp
SIX:B
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Barrick Mining Corp
SIX:B
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CA |
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.
Strong quarter: Barrick said Q1 was a strong quarter with better-than-guidance gold production, lower-than-planned costs and sharply higher cash flow, helped by a higher gold price and better execution.
Guidance unchanged: Management kept 2026 production and cost guidance unchanged and said Q2 gold production should be 730,000 to 770,000 ounces, with stronger output expected in the second half.
Capital returns: The company declared a quarterly dividend of $0.175 per share and approved a $3 billion share buyback, saying the buyback does not change the 50% year-end free cash flow dividend policy.
Growth projects: Lumwana, Fourmile and PV all advanced as planned, while the North American gold assets IPO remains on track for late summer filing and completion by year-end.
Reko Diq review: Barrick said the Reko Diq budget remains intact for now, but the project is under a 12-month review because of contractor and security-related issues, with holding costs around $20 million per month if care and maintenance continues.
