Barrick Steers Porgera Gold Mine Back Towards World-Class Production
Barrick Gold Corporation (BC) (GOLD)
Last barrick gold corporation (bc) earnings: 2/12 07:00 am
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randgoldresources.com
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Source: GlobeNewswire
PORT MORESBY, Papua New Guinea, March 30, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) – The government of Papua New Guinea, Barrick Niugini Limited and New Porgera Limited today signed an agreement to progress with the resumption of operations at the Porgera gold mine, which have been suspended since 2020.1 Porgera hosts an orebody with measured and indicated resources of 10 million ounces2 and inferred resources of 3.4 million ounces.2 After initial ramp up and optimisation of the Wangima pit, the mine is forecast to produce an average of 700,000 ounces per year, achieving a milestone towards its potential Tier One3 status. The New Porgera Progress Agreement (NPPA), signed today, confirms that all parties are committed to reopening the mine at the earliest opportunity, in line with the terms of the Porgera Project Commencement Agreement and the New Porgera Limited Shareholders Agreement both concluded in 2022. The New Porgera project team will now move
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Sec Filings
- 5/2/24 - Form 6-K
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- GOLD's page on the SEC website