Barrick Gold (ABX)

[Peter89]

Billionaire investor and former hedge fund manager Stanley Druckenmiller is bullish on gold starting new positions in:

Barrick Gold 1.76M shares, ca $25M
Newmont Mining 474K shares

Institutionals entering the PM mining sector
Imagine when they will enter companies like First Majestic... Endeavour Silver... Guanajuato Silver... (all producers. Let's leave explorers aside)

 

[pmbug]

Canada's Barrick Gold said on Monday it would suspend operations in Mali if the country does not lift restrictions on gold shipments within the coming week, as the mining group faces what sources told Reuters amounted to a confiscation order.

Barrick's Mali standoff, threats by Burkina Faso's junta to strip mining permits and the seizure of a French-run uranium site in Niger have unsettled Western miners and could limit further investments in West Africa, industry insiders say.

Military governments in Mali, Burkina Faso and Niger are all trying to renegotiate terms to gain a bigger share of mining revenues after a series of coups that have seen them shift away from their traditional backers France, the United States and the United Nations towards Russia.

Barrick, whose Loulo-Gounkoto mining complex in Mali accounts for around 14% of its 2025 estimated gold output, has been in a dispute with the country's government over a contract based on new mining rules since 2023. And last month, it issued an arrest warrant for Barrick Chief Executive Mark Bristow.

Mali was Africa's second-biggest gold producer in 2023 and 11th in the world, the World Gold Council said. Barrick is the second-largest gold mining company globally.
...

https://www.reuters.com/markets/commodities/barrick-faces-fresh-restrictions-mali-signals-temporary-suspension-coming-weeks-2025-01-06/

Barrick to possibly close 14% of it's gold production. I wonder if other miners operating in the region are also facing similar circumstances and considering closing operations.

 

[Voodoo]

I know that BTG has had problems there. They even had the government own 20% of the mine. Still some problems. Looks like that mine had the same arrangement. Not looking good in that military run shithole.