GOLD

Barrick Gold Corporation

21.25
USD
-0.28%
21.25
USD
-0.28%
17.27 26.07
52 weeks
52 weeks

Mkt Cap 37.79B

Shares Out 1.78B

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B2Gold, Barrick Gold say Mali mines can withstand sanctions disruptions

B2Gold's (BTG -2.8%) Fekola mine in Mali continues to operate normally and remains unaffected by sanctions imposed on the country by the Economic Community of West African States, CEO Clive Johnson tells Reuters. The group also said it would shut borders and sever diplomatic ties, in response to Mali's delay in holding elections following a 2020 military coup. Fekola should meet its 2022 production targets and appears well placed to withstand any supply disruptions that could be imposed, but the company is considering alternative ways to bring in supplies and personnel if necessary, the CEO says. For 2021, B2Gold expected the mine to produce 1.02M-1.06M oz. of gold. Mali's biggest gold miner, Barrick Gold (GOLD +0.6%), said yesterday that its Loulo-Gounkoto mining complex has not been affected by the sanctions and has sufficient stocks and stores to continue operating normally. Just last month, B2Gold secured an agreement in principle with Mali's government for the Menankoto exploration permit near the Fekola mine.

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