Barrick takes US$8.7B impairment charge
Barrick Gold (TSX: ABX; NYSE: ABX) is writing down the value of its assets by US$8.7 billion and slashing its quarterly dividend in response to the recent decline in metal prices.
Barrick Gold Corporation
Toronto Stock Exchange, July 29-Aug. 2
The S&P/TSX Composite Index was off 19 points to 12,603.25 for the period, as precious metal prices slumped and job numbers out of the U.S. disappointed market watchers.
U.S. markets, July 15-19
It was a news-filled week in the U.S., with Detroit filing the largest municipal bankruptcy in the country’s history, better-than-expected second quarter corporate earnings and reassuring comments from Federal Reserve Chairman Ben…
U.S. markets, July 1-5
U.S. markets were closed for the Independence Day holiday on July 4, but when they reopened on Friday, strong jobs data helped push the S&P 500 Index above its 50-day moving average for the first time since June 19. The employment numbers…
Toronto Stock Exchange, June 24-28
The Toronto Stock Exchange closed trading in positive territory, with the S&P/TSX Composite Index gaining 133 points, or 1.11%, to 12,129.11. Despite the boost, the index is down 2.45% year to date.
Barrick puts Pascua-Lama on slow track, eyes US$5B writedown, job cuts
When you’re in trouble, by all means keep digging, but just slow down the pace a bit. At least that is the solution Barrick Gold (ABX-T, ABX-N) has devised for its bloated Pascua-Lama gold mine project under construction in Chile and…
Editorial: This is what a washout looks like
Barrick Gold is the world’s leading gold company, and its Pascua-Lama gold-silver megaproject under construction on the Chilean-Argentine border is its leading development project. And so the gold industry watches in dismay as the major…
Toronto Stock Exchange, June 17-21
The strong run that equity markets had been enjoying for much of the year came to an end during the period, and the S&P/TSX Composite Index did not escape the global market trend. The index was off 255 points to 11,955.66 points for the…
Corvus bumps up economics at North Bullfrog
An optimized preliminary economic assessment (PEA) for Corvus Gold’s (KOR-T) North Bullfrog open-pit gold-silver project in southern Nevada has outlined a slightly larger project with substantially better returns.
Barrick turns to layoffs to cut costs
VANCOUVER – With the price of gold down more than 20% this year, its share price down more than 50% in eight months, and setbacks piling ups at its operating and developing mines, Barrick Gold (ABX-T, ABX-N) is laying off 30% of its…
U.S. markets, May 27-31
U.S. markets were closed for the Memorial Day holiday on May 27, and when trading resumed equities were volatile for the rest of the week, rising one day only to fall the next on mixed news. Markets initially rose on Tuesday after Japanese and…
Chile fines Barrick US$16M for violations
VANCOUVER — Chile’s environmental regulator has imposed its maximum fine on the world’s largest gold miner after a four-month investigation revealed Barrick Gold (ABX-T, ABX-N) committed “very serious” violations…