Barrick’s ‘world-class asset’ begins production
The long-awaited debut of Barrick’s Pueblo Viejo, one of the largest gold deposits in the world, has finally arrived with the mine producing its first commercial gold.
The long-awaited debut of Barrick’s Pueblo Viejo, one of the largest gold deposits in the world, has finally arrived with the mine producing its first commercial gold.
Canadian miner Goldcorp appointed George Burns as the new executive vice president and chief operating officer. Burns replaces Steve Reid, who is leaving the company to pursue other interests.
US Silver board of directors voted instead to merge with Canadian RX Gold & Silver and form a new firm.
Aerial topography and a diamond drilling work program are planned for the Champinon Iron Project. The work will enhance the mining and processing development plan and help to insure consistent feed at the highest possible iron ore yields from the project.
Barrick Gold, the world’s largest producer of the precious metal, said it would continue to pursue acquisition opportunities despite the full review of its operations.
Despite a drop in net income, from $68.9 million last Q2 to this year's $43.4, the miner saw an increase in revenue, gold production and, as a result, a pleasant 8.5% rise in stock price.
The company reported a 20% drop in its adjusted Q2 earnings due in part, says Goldcorps CEO, to the operating problems at its Penasquito and Red Lake projects.
Aben announces the commencement of drilling activity on its 100% owned, 18,314 acre flagship Justin project, where the company made a significant greenfield gold-silver drill discovery in 2011.
Panamanian farmers in the country's rainforest regions have teamed up with environmental activists to protest the impact of Canadian mining operations on the local environment, as well as halt the construction of what is slated to be one of the world's largest copper mines by Inmet Mining (TSX:IMN).
Goldcorp, the world's second-largest gold miner, said expected gold production would drop 8% due to problems at Peñasquito and Red Lake.