Last Updated :
08 May 2009 at 23:35 IST
ABX share gains on mine kick-off
Commodity Online Barrick Gold Corp. (NYSE:ABX) has announced it has commenced mining with first gold pour at Buzwagi mine in Tanzania anticipated to produce approximately 200,000 ounces of gold at total cash costs of $320-$335/ounce.
Barrick Gold Corp. is based in Toronto it is engaged the production and sale of gold, as well as related activities, such as exploration and mine development.
ABX constructed Buzwagi inclusive in its budget of $400 million and it currently consists of gold reserves of 3.3 million ounces as at year end 2008.
Notably, Barrick’s Lake Cowal mine’s expansion is awaiting court’s approval which has left 40 new new hires on halt. ABX managed to conclude 2 years of planning and 13 environmental assessments for the expansion prior to its rejection.
ABX share is currently trading with a gain of 2.9% on New York Stock Exchange as on Friday. It touched a 52-week high of 52.48 and low of 17.27.
NCDEX RAPEMUSTARDSEEDJUL12 20 July 2012
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