02:40:59 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,166,902,835
Close 2018-07-10 C$ 17.58
Market Cap C$ 20,514,151,839
Recent Sedar Documents

Van Sun says Barrick looks to China to help revive Lama

2018-07-10 07:20 ET - In the News

The Vancouver Sun reports in its Tuesday edition that Barrick Gold, the largest gold miner in the world, is asking a state-owned Chinese conglomerate to help in its decades-long quest to dig up a vast gold deposit near the border between Argentina and Chile. Postmedia's Gabriel Friedman writes that on Monday, Barrick announced that Shandong Gold Group will study whether it makes sense to build an open pit, heap leach mine squarely inside Argentina -- after Chilean authorities last year ordered the closure of mining activities on their side of the border. The announcement shows the company's growing reliance on Shandong as a partner. In April, 2017, Shandong paid $960-million and formed a 50:50 joint venture in Barrick's Veladero gold mine in Argentina, and the two agreed to explore future opportunities together. It also signals yet another inroad for Chinese companies, which in recent years have been heavily investing and partnering with Canadian mining companies involved in copper, uranium and other metals. Barrick gave Shandong full access to all geological and other data related the Lama deposit. Previously known as Pascua-Lama, the deposit is now renamed Lama and refers only to Argentina's side of the deposit.

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