By John Meyer, enterprise and finance marketing consultant – Eurasia Enterprise Information, January 4, 2023
Barrick Gold, one of many world’s main gold miners, is in search of gold and copper deposits in South Asia and seeing Indonesia as a attainable vacation spot for exploration.
Geologists at Barrick’s Asia-Pacific division are in search of deposits alongside an unlimited belt of mineralization stretching from Pakistan to Papua New Guinea, mentioned Mark Bristow, head of the gold miner, to Bloomberg in an interview.
To date, Barrick Gold has no confirmed exploration in Indonesia, but it surely does have belongings at each ends of the belt – the Porgera gold mine in Papua New Guinea and the Reko Diq copper-gold undertaking in Pakistan. “That’s undoubtedly a part of our evaluation at this stage,” Mark Bristow mentioned about Indonesia.
Learn additionally : How one can put money into gold
Barrick Gold ranks 2nd within the rating of the world’s largest gold miners. Gold belongings are positioned within the U.S., Tanzania, Canada, Congo, Mali, Papua New Guinea, dominican Republic, Ivory Coast and Argentina, copper belongings in Saudi Arabia, Zambia and Chile.
Till 2018, Barrick Gold was the world’s primary in gold mining, forward of the American Newmont Mining and the South African Goldfields and AngloGold Ashanti. In 2019, Newmont Mining merged with Goldcorp, with Newmont Goldcorp Group changing into the chief in its trade.
As well as, Barrick carries out the Reko Diq undertaking in Pakistan. As soon as the transaction is accomplished, Reko Diq, one of many largest undeveloped copper-gold deposits on the earth, might be owned 50% by Barrick, 25% by Balochistan province and 25% by main Pakistani state-owned enterprises (SOEs).
The regular rise within the value of gold since 2021 will increase the profitability of mining initiatives and promotes funding within the sector.
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