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MT Newswires Stock To Watch: Barrick Gold Up About 0.5% In US Pre-Market After Loulo-Gounkoto Update

· 02/08/2021 01:30

06:29 AM EST, 02/08/2021 (MT Newswires) -- Barrick Gold Corporation (ABX.TO, GOLD) over the weekend said its Loulo-Gounkoto mine complex delivered production of 680,215 ounces of gold in 2020, exceeding its full year guidance "despite Covid-19 and other challenges." At the same time, the company added. it improved its safety performance, reducing its Lost Time Frequency Rate by more than half compared to 2019 and achieving a Lost Time Injury Free year in its underground operations. "The underground operations have reached a world-class level of automation, hard on the heels of pace-setter Kibali. The two existing underground mines, Yalea and Gara, will shortly be joined by a third when Gounkoto underground delivers its first ore tonnes planned for the second quarter of this year."

In another major technological advance, the weekend statement said, Loulo commissioned Barrick's first solar power plant in the Africa and Middle East region, delivering 20MW of capacity into the microgrid. Projects scheduled for completion in 2021 include the commissioning of a water treatment plant, an expansion of power generating capacity and a powerline upgrade to support the new Gounkoto underground mine.

Price: 28.51, Change: +0.31, Percent Change: +1.10