Barrick Gold Restarts Loulo Mine Blasting, Produces Gold During Pause
Barrick Gold Corporation has resumed blasting operations at its underground Loulo mine in Mali, following months of suspension. Meanwhile, the mine produced 1.07 metric tons of gold from existing ore stockpiles during the pause. The company's stock has seen increased interest from investment firms, with several raising price targets and opening new positions.
The Loulo mine, a significant asset for Barrick Gold, has restarted its blasting operations. This follows a period of suspension, during which the mine still managed to produce a substantial amount of gold from its stockpiles. This production, totalling 1.07 metric tons, demonstrates the mine's efficiency even under restricted operations.
Barrick Gold's stock has been the subject of increased attention from investment firms. Royal Bank of Canada and UBS Group have both raised their price targets, with UBS maintaining a 'Buy' rating. Ritholtz Wealth Management has opened a new position in the company, while Harbour Investments Inc. invested $380,000 in Barrick Gold. Although specific recent institutional buyers are not listed, gold mining investment funds like BlackRock's BGF World Gold Fund hold significant shares in the company, indicating strong investment interest.
Barrick Gold has resolved payment disputes with key contractors Sandvik and Maxam at its Loulo-Gounkoto complex in Mali. The company is expected to release its third-quarter 2025 results on November 10. With blasting operations resumed at the Loulo mine and increased investment interest, Barrick Gold looks set to continue its operations and financial performance.
