Barrick Mining Corporation Stock News

Unions representing workers ​at the Loulo-Gounkoto gold complex in Mali, operated by Barrick Mining , have issued a series of ‌strike notices to management, raising the risk of labour disruptions from September 28 at one of Mali's largest gold-producing operations, according to documents seen by Reuters on Friday.

The TSX Composite Index has soared this year, even as gold prices have recoiled. It has jumped by 14.35% this year and 30% in the last 12 months, outperforming the S&P 500.

Barrick Gold Corp. (TSX:ABX, NYSE:GOLD) shares fell 8% on Monday after the company reported second quarter results that showed strong year-over-year growth but came in below Wall Street estimates. The company reported adjusted earnings of $0.82 per share for the quarter, below the $0.84 consensus estimate.

Mining giant Barrick announced Monday that it has reached an agreement with gold-mining company Newmont to combine some of their mines — helping to support an initial public offering of Barrick's North American gold assets by the end of the year.

Barrick earnings fell short as oil prices pushed up costs. A Newmont deal could ease the way for a North America IPO.

Barrick Mining settled a longstanding dispute with rival Newmont over its Nevada operations, securing a $1.95 billion cash payout and paving the way for the spinoff of Barrick's North American gold assets.

Amended JV Agreement Includes Contribution of Excluded Properties and Concludes All Outstanding Disputes Between Parties