Reports related to this article:
Project(s): View 3 related projects in PECWeb
Plant(s): View 3 related plants in PECWeb
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Barrick Gold Corporation (NYSE:ABX) (Toronto, Ontario) expects its capital expenditures this year to run between $1.4 billion and $1.6 billion, with more money going into growth projects. Capital expenditures by the gold and copper miner totaled $1.4 billion in 2017.
The company, which operates mines in the U.S., South America and Africa, said in its recent earnings statement that project capital expenditures will be $450 million to $550 million, an increase of about $270 million from expenditures in 2017. Sustaining capital expenditures are expected to be in the range of $950 million to $1.1 billion, compared with $1.1 billion in 2017.
Barrick Gold said it expects capital expenditures to be in the range of $1.1 billion to $1.5 billion for 2019 through 2022, of which about 30% will be for growth capital.
Industrial Info is tracking more than $9.6 billion in active Barrick Gold projects, including more than $1.6 billion in North America.
The company listed its "high-confidence projects," in its earnings release, including the planned Goldrush project, which "has the potential to become Barrick's newest underground mine in Nevada, with first production expected as early as 2021, and sustained production by 2023."
Located in Crescent Valley, the $1 billion Goldrush project has the potential to produce 450,000 ounces of gold per year, according to the company. For more information, see Industrial Info's project report.
Barrick Gold said its planned Turquoise Ridge joint venture with Newmont Mining Corporation (NYSE:NEM) (Greenwood Village, Colorado), has the potential to increase gold production to an average of 500,000 ounces per year from the current 280,000 ounces per year. Now under economic evaluation, the project involves a $325 million, three-phase approach, including converting a planned third shaft from a ventilation shaft to a production shaft, which would reduce haulage distances to the surface, hence reducing mining costs and increasing ore mining. For more information, see Industrial Info's project report.
Barrick Gold said it and Newmont mining reached a new seven-year toll milling agreement in January for processing Turquoise Ridge ore at Newmont's Twin Creeks facility. "The agreement supports plans to expand production and unlock the full potential of Turquoise Ridge by increasing processing capacity," Barrick Gold said. It projected throughput of 850,000 tons per year in 2018 and 2019, rising to 1.2 million tons per year between 2020 and 2024.
Barrick Gold's $153 million Deep South mine addition project at its Cortez Hills underground complex in Crescent Hills, Nevada, would add more than 300,000 ounces of gold per year from the operation over a five-year span, with initial production as early as 2023, the company said. Industrial Info assesses the project as having a medium probability of moving forward as planned. For more information, see Industrial Info's project report.
Barrick Gold reported $1.4 billion in net earnings for 2017, compared with $655 million in 2016. The federal tax reform bill that was passed in December benefited the company to the tune of $200 million, it said.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
The company, which operates mines in the U.S., South America and Africa, said in its recent earnings statement that project capital expenditures will be $450 million to $550 million, an increase of about $270 million from expenditures in 2017. Sustaining capital expenditures are expected to be in the range of $950 million to $1.1 billion, compared with $1.1 billion in 2017.
Barrick Gold said it expects capital expenditures to be in the range of $1.1 billion to $1.5 billion for 2019 through 2022, of which about 30% will be for growth capital.
Industrial Info is tracking more than $9.6 billion in active Barrick Gold projects, including more than $1.6 billion in North America.
The company listed its "high-confidence projects," in its earnings release, including the planned Goldrush project, which "has the potential to become Barrick's newest underground mine in Nevada, with first production expected as early as 2021, and sustained production by 2023."
Located in Crescent Valley, the $1 billion Goldrush project has the potential to produce 450,000 ounces of gold per year, according to the company. For more information, see Industrial Info's project report.
Barrick Gold said its planned Turquoise Ridge joint venture with Newmont Mining Corporation (NYSE:NEM) (Greenwood Village, Colorado), has the potential to increase gold production to an average of 500,000 ounces per year from the current 280,000 ounces per year. Now under economic evaluation, the project involves a $325 million, three-phase approach, including converting a planned third shaft from a ventilation shaft to a production shaft, which would reduce haulage distances to the surface, hence reducing mining costs and increasing ore mining. For more information, see Industrial Info's project report.
Barrick Gold said it and Newmont mining reached a new seven-year toll milling agreement in January for processing Turquoise Ridge ore at Newmont's Twin Creeks facility. "The agreement supports plans to expand production and unlock the full potential of Turquoise Ridge by increasing processing capacity," Barrick Gold said. It projected throughput of 850,000 tons per year in 2018 and 2019, rising to 1.2 million tons per year between 2020 and 2024.
Barrick Gold's $153 million Deep South mine addition project at its Cortez Hills underground complex in Crescent Hills, Nevada, would add more than 300,000 ounces of gold per year from the operation over a five-year span, with initial production as early as 2023, the company said. Industrial Info assesses the project as having a medium probability of moving forward as planned. For more information, see Industrial Info's project report.
Barrick Gold reported $1.4 billion in net earnings for 2017, compared with $655 million in 2016. The federal tax reform bill that was passed in December benefited the company to the tune of $200 million, it said.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
