African Barrick approves Bulyanhulu expansion

Shares in African Barrick Gold climbed 6% on Thursday as the London-listed miner announced board approval for a $185-million brownfield expansion at its Bulyanhulu mine. The expansion would add near-term production at its flagship Tanzanian mine,...

African Barrick hikes Nyanzaga resource

London-listed African Barrick Gold on Tuesday reported increasing confidence in its Nyanzaga project, in Tanzania. The project’s inpit mineral resource estimate has increased by 500 000 ounces of gold. The indicated resource now comprised...

African Barrick Gold sees deal options in 2012

African Barrick Gold (ABG) sees increased opportunities for deals in Africa as asset prices ease and potential sellers begin to consider their options in the face of a still-uncertain economic outlook, the mining company said on Tuesday. ABG, a...

African Barrick targets up to 725 000 oz in 2012

London-listed African Barrick Gold has set a gold production target of between 675 000 oz and 725 000 oz for 2012, CEO Greg Hawkins said on Thursday. The miner, which missed its initial 2011 production guidance because of power issues in...

African Barrick hikes resource at Nyanzaga project

Gold miner African Barrick Gold reported on Friday a big increase in the mineral resource estimate at the Tusker deposit of its Nyanzaga project, in Tanzania. The updated in-pit resource was in excess of four-million ounces of gold, consisting of...

Power outages take toll on African Barrick output

Tanzania’s largest gold miner, LSE-listed African Barrick Gold (ABG) said on Wednesday it produced about 2% less gold in 2011, than in 2010, with output falling to 688 278 oz. This came on the back of attributable gold production for the fourth...

African Barrick net income up 21% to $120m

London-listed African Barrick Gold increased its net income to $120-million in the first six months of the year, as the price of bullion jumped and its mines produced in line with expectations. The $120-million net income is an improvement of 21%...

African Barrick profit falls as weaker output, higher costs offset price rise

London-listed African Barrick Gold’s first-quarter profit fell by 5% to $50,4-million as lower production, higher costs and increased exploration spending offset the benefit of higher gold prices. During the three months ended March 31, gold...

African Barrick sees Golden Ridge as satellite operation to Buzwagi

The Golden Ridge project has the potential to be a satellite operation to African Barrick Gold’s Buzwagi mine in Tanzania, CEO Greg Hawkins said on Monday. Announcing an initial mineral resource at Golden Ridge, Hawkins said that the project...

African Barrick more than triples FY income

LSE-listed African Barrick Gold (ABG), which produces gold from four mines in Tanzania, said net income more than tripled to $218-million in 2010. The precious metals miner on Wednesday reported that a strong fourth quarter saw sales for the year...

Studies under way for North Mara mine

Tanzania-focused African Barrick Gold, an exhibitor at the Mining Indaba 2011, reports that it could potentially develop a “substantial” underground operation at its North Mara mine, CEO Greg Hawkins says. The miner declared an initial...

African Barrick studies underground mine at North Mara

Tanzania-focused African Barrick Gold could potentially develop a “substantial” underground operation at its North Mara mine, CEO Greg Hawkins announced on Thursday. The miner declared an initial underground resource of 370 000 oz beneath the...