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Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,164,669,608
Close 2015-01-05 C$ 12.81
Market Cap C$ 14,919,417,678
Recent Sedar Documents

Post/CP say Silver Wheaton cuts Barrick some slack

2015-01-06 09:39 ET - In the News

See In the News (C-SLW) Silver Wheaton Corp

The Financial Post reports in its Tuesday edition Silver Wheaton has agreed to give Barrick Gold another 2-1/2 years to meet a production milestone at the stalled Pascua-Lama mining project in South America. A Canadian Press dispatch to the Post says under the agreement, Silver Wheaton paid about $625-million (U.S.) in cash in return for rights to silver produced by Barrick either at Pascua-Lama on the Chile-Argentina border or its other mines. Construction of Pascua-Lama is suspended. Barrick now has until June 30, 2020, to reach at least 75 per cent of design capacity at Pascua-Lama. The previous deadline was Dec. 31, 2017, which was two years later than the original target of Dec. 31, 2015, when the deal was reached in 2013. In the meantime, Silver Wheaton will now receive silver produced at three other Barrick mines (Lagunas Norte, Pierina and Veladero) until March 31, 2018, rather than until the end of 2016 as previously agreed. As of Sept. 30, Silver Wheaton had received 12 million ounces of silver from Barrick's other mines, representing $275-million (U.S.) of cash flow. Silver Wheaton is also cancelling a silver stream agreement with Nyrstar Mining.

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