MALI: BARRICK PAID A COMBINED DIVIDEND FOR THE LOULO-GOUNKOTO COMPLEX OF $ 80 MILLION DURING THE QUARTER
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Bamada.net 04/30/2021
The officials of the mining company Barrick Gold Corporation, through its Loulo-Gounkoto mining complex, unveiled on April 27, 2021 to the press, the results obtained by the company despite the difficult health context in Mali. According to Mark Bristow, president and chief executive officer of Barrick Gold Corporation, the third underground mine in the giant Loulo-Gounkoto gold complex of Barrick Gold Corporation has reached its first level of mining and is expected to start delivering tons of ore to the plant in during the current quarter.
At the same time, a pre-feasibility study was launched for two other mines on the Loulo permit: an underground operation at Loulo 3 and a large open pit mine at Yalea Sud.
According to Bristow, these projects would add mining sources and improve the flexibility of power to the plant, providing additional support to the complex 10-year plan. Meanwhile, exploration programs designed to replace depleted reserves continue to perform well.
“The complex produced 193,014 ounces of gold in the first quarter and is on track to meet its annual goal of 640,000 to 700,000 ounces1.
Given its strong performance and the relatively high gold price, the board of directors of the joint venture paid a combined dividend for the Loulo-Gounkoto complex of $ 80 million during the quarter, ”he said.
Separately, Bristow said the resort continues to invest in the development of the local community. One of its latest initiatives is the Accelerator program, which trains small suppliers and service providers in all aspects of business to enable them to grow and diversify.
“Loulo-Gounkoto remains a pillar of the Malian economy as well as an engine of local economic development.
Over the past 24 years, Barrick and its former company Randgold Resources have contributed $ 7.7 billion to the economy, including $ 3 billion to the state in the form of dividends, taxes and royalties. Our long-standing partnership with the country and its people is a testament to how such a relationship can be mutually beneficial, ”he suggested.