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Barrick Gold Corp

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  • *Vedanta's Zambia copper unit to remain loss-making- CEO. LUSAKA, April 23- Barrick Gold Corp. has backtracked on its decision to suspend operations at its Lumwana open pit copper mine in Zambia after the cabinet reduced mining royalties, a senior government official said on Thursday. Zambia's cabinet set the royalty tax rate for open cast and underground...

  • PRECIOUS-Strong U.S. housing data keeps gold below $1,200 Wednesday, 22 Apr 2015 | 8:46 PM ET

    SINGAPORE, April 23- Gold hovered below $1,200 an ounce on Thursday, following its biggest drop in over a month, as strong U.S. housing data stoked expectations the Federal Reserve would soon hike interest rates. *Spot gold was flat at $1,187.20 an ounce by 0036 GMT, near its lowest in a week. *Greece can scrape together enough cash to meet its payment obligations into...

  • *Copper price recovers on supply concerns- Barclays. MELBOURNE, April 20- London copper rallied to its highest level in four weeks on Monday, before gains frittered away, after China cut the amount of cash that banks must hold as reserves to help combat a slowdown in growth in the world's second-biggest economy. The move could help buttress copper prices, which are...

  • TORONTO, April 17- Two of Canada's largest pension funds, shareholders of Canadian Imperial Bank of Commerce, said on Friday they will demonstrate their unhappiness with CIBC's executive pay structure at the lender's annual meeting next week. CIBC named Victor Dodig as its chief executive last year, replacing Gerry McCaughey, who retired in September 2014.

  • TORONTO, April 17- Barrick Gold Corp faces a fresh backlash over executive pay at its shareholder meeting this month, with some big institutions planning to vote against its compensation plan and withhold votes for directors to express their unhappiness. Two major Canadian pension funds, the British Columbia Investment Management Corp and Ontario Teachers'...

  • TORONTO, April 10- Proxy advisory firm Institutional Shareholder Services has recommended that shareholders vote against Barrick Gold Corp's executive pay plan, the second influential advisor to find fault with the company's compensation scheme. A 36 percent jump in Executive Chairman John Thornton's compensation, to $12.9 million in 2014 from $9.5...

  • TORONTO, April 9- Influential proxy advisory firm Glass Lewis is recommending that shareholders vote against Barrick Gold Corp's executive compensation plan, while flagging "serious concerns" with the executive chairman's pay. Toronto- based Barrick introduced a new compensation program last year after a shareholder outcry in 2013, but it still resulted...

  • TORONTO, April 9- The influential proxy advisory firm Glass Lewis is recommending that shareholders vote against Barrick Gold Corp's executive compensation plan, while flagging "serious concerns" with the executive chairman's pay. The Toronto- based company introduced a new compensation program last year after a shareholder outcry in 2013, but it still...

  • SINGAPORE, April 6- Gold rose for a second straight session to trade near a three-week high on Monday, after U.S. jobs posted the slowest growth in more than a year, fuelling expectations the Federal Reserve could postpone an anticipated rate increase. *Spot gold was up 0.6 percent at $1,217.66 an ounce by 0028 GMT, close to a three-week peak of $1,219.40 reached on...

  • SINGAPORE, April 2- Gold hovered above $1,200 an ounce on Thursday, clinging to gains from the prior session when it rose the most in two months, after weak U.S. private jobs data suggested that a more comprehensive employment report could disappoint. *Spot gold was flat at $1,203.70 an ounce by 2324 GMT, after climbing 1.8 percent on Wednesday.

  • NEW YORK, April 1- Barrick Gold Corp has lost its bid to dismiss a U.S. lawsuit that accuses the world's largest gold producer of concealing problems at a troubled South American mine and of fraudulently inflating the company's market value by billions of dollars. District Judge Shira Scheindlin in Manhattan ruled on Wednesday that shareholders can pursue...

  • NEW YORK, April 1- Barrick Gold Corp lost its bid to dismiss a U.S. lawsuit accusing the world's largest gold producer of concealing problems at a troubled South American mine, and fraudulently inflated its market value by tens of billions of dollars. District Judge Shira Scheindlin in Manhattan ruled on Wednesday that shareholders could pursue class action...

  • NEW YORK, April 1- Energy stocks have further to fall before they look attractive, according to a fund manager who has made his name investing in out of favor companies. Daniel Kozlowski, portfolio manager of the $4.6 billion Janus Contrarian fund, is not adding oil-related stocks to his portfolio despite the price of crude dropping about 50 percent since last...

  • "Canada is, for all intents and purposes, one of the best places you can explore," said Ian Ball, president of Abitibi Royalties Inc. "It had fallen out of favor a bit, but it is coming back quite rapidly." But that trend is beginning to turn for some of those with gold projects in Canada. These Canadian mines generally do not hold the promise mega projects like Barrick Gold...

  • Chile eyes new push on a glacier protection law Thursday, 5 Mar 2015 | 11:13 AM ET

    SANTIAGO, March 5- The Chilean government and congressional lawmakers agreed this week to work together to try to pass legislation to protect the country's glaciers, a move that could hinder development of mining projects in the world's No. 1 copper exporter. Most glaciers in South America are already receding due to higher temperatures linked to global...

  • Feb 20- Canadian base metal miner First Quantum Minerals Ltd reported a 42.5 percent drop in adjusted quarterly profit on Friday, hurt by higher copper production costs and lower copper prices. First Quantum's net income, however, more than tripled to $453.2 million as the company recorded a $382.2 million gain related to the revaluation of Zambian deferred...

  • TORONTO, Feb 19- Goldcorp Inc posted a hefty loss on Thursday as it took a $2.3 billion impairment charge on a new mine in Argentina, the second multi-billion dollar writedown from a top gold miner in as many days. The charge follows an even larger $2.8 billion writedown reported by Barrick Gold Corp, the world's top gold producer by production.

  • Feb 18- Barrick Gold Corp said on Wednesday it will sell its Porgera mine in Papua New Guinea and its Cowal mine in Australia to help reduce net debt by at least $3 billion by year-end, giving investors a long-awaited glimpse into its strategy. Barrick, the world's biggest gold producer, also said it was reducing the size of its Toronto head office by close to half...

  • Feb 18- Barrick Gold Corp said on Wednesday it plans to reduce its net debt by $3 billion by the end of the year through moves that will include selling its Porgera mine in Papua New Guinea and its Cowal mine in Australia. The Toronto- based company reported a net loss in the fourth quarter as it booked $2.8 billion in after-tax impairment charges related mostly to...

  • Feb 18- Barrick Gold Corp on Wednesday reported a net loss in the fourth quarter as it booked $2.8 billion in after-tax impairment charges related mostly to its Lumwana mine in Zambia and its Cerro Casale project in Chile.