Barrick ramps up mine stocks to weather supply chain storm - CEO [Reuters]
Barrick Gold Corporation (BC) (GOLD)
Last barrick gold corporation (bc) earnings: 2/12 07:00 am
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Source: Reuters
Barrick ramps up mine stocks to weather supply chain storm - CEO By Helen Reid 2 Min Read CAPE TOWN (Reuters) - Barrick Gold Corp has nearly doubled its inventory of some key supplies at mines to weather the disruptions caused by Russia’s invasion of Ukraine, Chief Executive Mark Bristow told Reuters on Wednesday. The world’s second biggest gold miner used to hold a month’s worth of supplies at mines but tripled that when the COVID-19 pandemic hit in early 2020. This year, when it became clear Russia would invade Ukraine, Barrick ramped inventories up to five months’ worth for key supplies like cyanide, explosives, and steel balls used for milling, Bristow said. “We’ve taken some of the inventory up to five months, because of the Russian issue,” he said in an interview on the sidelines of the Mining Indaba conference in Cape Town. Russia’s invasion of Ukraine in February has caused supply chain disruptions worldwide and sent gas and metal prices soaring, turbo-charging inflation. Bri
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Sec Filings
- 3/28/24 - Form 6-K
- 3/15/24 - Form 6-K
- 3/15/24 - Form 6-K
- GOLD's page on the SEC website