Barrick Gold Corp said on Wednesday it has formed a joint venture with Saudi Arabian Mining Co (Ma'aden) to run the Jabal Sayid copper asset in the kingdom, which will jump-start output at the long-delayed mine.Toronto-based Barrick Gold said Jabal Sayid, located some 120 km (75 miles) southeast of Medina, is now expected to begin shipping low-cost concentrate in early 2016.Ma'aden, which is controlled by the Saudi state, agreed in July to purchase a 50 percent stake in the project for $210 million.Ma'aden said separately it will report the impact of acquiring the stake in its fourth-quarter financial statement.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX traded higher by 1.68% or $0.1999/share to $12.13. In the past year, the shares have traded as low as $10.90 and as high as $21.45. On average, 14176900 shares of ABX exchange hands on a given day and today's volume is recorded at 1369585.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX traded higher by 1.84% or $0.25/share to $13.83. In the past year, the shares have traded as low as $12.43 and as high as $23.78. On average, 2590940 shares of ABX.TO exchange hands on a given day and today's volume is recorded at 242610.
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