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☆ As Groundwater Dwindles, Powerful Players Block Change
▼ + stars: | 2023-11-24 | by ( Christopher Flavelle | Mira Rojanasakul | ) www.nytimes.com time to read: +19 min

They serve on the board of Groundwater Management District 3, which since 1996 has overseen the pumping of 16.2 trillion gallons of groundwater — enough to fill Lake Mead, the country’s largest reservoir, twice over. From Maryland to Hawaii groundwater levels are falling, often the result of overpumping and underregulation, made worse by climate change. Groundwater Levels at Goldstrike Mine Observation wells at Goldstrike show a pattern of immense groundwater withdrawals. “And money talks.”Kansas City Groundwater Management District 3 KANSAS Wichita KANSAS Groundwater Management District 3 Kansas City Groundwater Management District 3 KANSAS WichitaGrowing corn in the Kansas drylandsIn Kansas, the power of the men who run Groundwater Management District 3 is enormous. Groups like Groundwater Management District 3 have until 2026 to come up with plans to sustain groundwater.

Persons: Lake Mead, —, Catherine Hospital —, we’re, ”, Lindsay Vaughn, David Robert Elliott, Joe Newland, Nevada Adam Sullivan, Christina Erling, Erling, Adam Sullivan, Emily Najera, Kim Raff, Julie Pazina, ” Barrick, Michael McCarthy, Barrick, ” Mr, McCarthy, Michael H, Taylor, Patrick Donnelly, don’t, Helena Billings, it’s, Galt, Wylie Galt, Bill Galt, Dutton, Wylie, Errol Galt, Galt’s, Matthew Hamon, The New York Times Eugene Graf, Montana homebuilders, The New York Times Montana, Brad Dundas, Dundas, Mr, John Tubbs, Tubbs, The New York Times Errol Galt, Eugene Graf, Graf, Guy Alsentzer, “, Lucas Bessire, Vaughn, Newland, Mark Rude, Kan, The New York Times Mark Rude, Ms, Lall, Ali Zaidi, Biden, Jared Huffman, Huffman Organizations: Groundwater Management, Walmart, State, The New York Times, Kansas Farm Bureau, New York Times, NEVADA Carson City Las, Barrick, Carson City Las, NEVADA Carson City, North, Barrick Gold Corporation, Nevada Gold Mines, Nevada, of Water, University of Nevada, Center for Biological Diversity, Republican, Representatives, The Times, Galt, state’s Department of Natural Resources, The New York, Montana Fish, Montana Building Industry Association, KANSAS, KANSAS Wichita KANSAS Groundwater Management, KANSAS Wichita, Kansas drylands, Management, Kansas City Topeka, Kansas City, Topeka Wichita, Survey, University of Oklahoma, Groundwater, Kansas, Columbia Water Center, Columbia University, Natural Resources Defense Council, Marin Municipal Water District, Fisheries Locations: United States, Garden City, Kan, America, Lake, Kansas, Maryland, Hawaii, Barrick, NEVADA Carson, Carson, Nevada, Canada, Goldstrike, North America, Barrick’s, ” MONTANA, Helena, Bozeman MONTANA, Helena Billings Bozeman, Montana, Galt, ”, Broadwater County, Elk, Confederate, Sulphur Springs, Mont, Upper Missouri, Townsend, ” Kansas, Groundwater Management District, KANSAS Wichita KANSAS, KANSAS Wichita KANSAS Groundwater Management District, KANSAS, Kansas drylands In Kansas, District, Wichita, Kansas City Topeka, Management District, Topeka, Kansas City, Arkansas, Washington, California, Marin

☆ Pakistan's interim PM says Saudi Arabia to invest $25 bln over next five years
▼ + stars: | 2023-09-04 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +3 min

There was no immediate response to a Reuters request to the Saudi Arabian government for comment on Kakar's remarks. If confirmed, a series of investments worth $25 billion would be the biggest ever by the kingdom in Pakistan. Pakistan's state owned enterprises have long been an area of concern with bleeding financials adding to financial stress. Recently Pakistan added struggling state-run Pakistan International Airlines to the privatisation list again. Reporting by Gibran Peshimam; Additional reporting by Aziz El Yaakoubi in Riyadh; Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.

Persons: Akhtar Soomro, Anwaar, Haq Kakar, Kakar, Gibran Peshimam, Aziz El Yaakoubi, William Maclean Organizations: REUTERS, Rights, International Monetary Fund, Barrick Gold Corp, Pakistan's, Barrick, Pakistan International Airlines, Thomson Locations: Karachi, Pakistan, Rights ISLAMABAD, Saudi Arabia, Saudi, Saudi Arabian, Riyadh, Balochistan

Mark Bristow, CEO of Barrick Gold Co. REUTERS/Shelley Christians/File PhotoTORONTO, Aug 8 (Reuters) - Barrick Gold Corp (ABX.TO) is open to bringing in Saudi Arabia's wealth fund as one of its partners in Pakistan's Reko Diq gold and copper mine, Barrick CEO Mark Bristow told Reuters in an interview on Tuesday. Barrick Gold owns a 50% stake in Pakistan's Reko Diq mine, with the remaining 50% owned by the governments of Pakistan and the province of Balochistan. He said that Barrick will support PIF coming into the mine through Pakistan's 25% equity stake. Barrick and Saudi's state-owned mining company Ma'aden jointly operate a copper project in Jeddah.

Persons: Mark Bristow, Shelley Christians, Barrick, Bristow, PIF, Divya Rajagopal, Mark Porter, Conor Humphries Organizations: Barrick Gold , Reuters, Mining, REUTERS, TORONTO, Barrick Gold Corp, Pakistan's, Barrick, Minerals, Barrick Gold, Saudi Arabia's Public Investment Fund, Ma'aden, Thomson Locations: Cape Town , South Africa, Saudi, Pakistan's, Pakistan, Balochistan, Saudi Arabia, Islamabad, Saudi's, Jeddah, PIF, VALE3

[1/2] A small toy figure and imitation gold are seen in front of the Newcrest logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/IllustrationMay 15 (Reuters) - Australian gold miner Newcrest Mining Ltd said on Monday it would back Newmont Corp's (NEM.N) A$26.2 billion ($17.8 billion) takeover offer in one of the world's largest buyouts so far this year. Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of A$29.27 a share, higher than a previous exchange ratio of 0.380 that Newcrest's board rejected in February. "This transaction will combine two of the world's leading gold producers, bringing forward significant value to Newcrest shareholders through the recognition of our outstanding growth pipeline," said Newcrest Chairman Peter Tomsett. Newcrest shareholders will be able to choose to receive New York Stock Exchange-listed Newmont shares or Australian-listed CHESS Depository Instruments (CDIs) as payment.

REUTERS/Dado Ruvic/IllustrationMay 15 (Reuters) - Australian gold miner Newcrest Mining Ltd said on Monday it would back Newmont Corp's (NEM.N) A$26.2 billion ($17.8 billion) takeover offer in one of the world's largest buyouts so far this year. If the deal gets Newcrest shareholders' approval and other regulatory approvals, it would lift Newmont's gold output to nearly double its nearest rival, Barrick Gold Corp (ABX.TO), further solidifying Newmont's position as the world's biggest gold producer. Newcrest shareholders will be able to choose to receive New York Stock Exchange-listed Newmont shares or Australian listed CHESS Depository Instruments (CDIs) as payment. Newcrest said it recommended its shareholders vote in favour of the deal at a meeting expected to be held in September or October. The deal requires Australia's Foreign Investment Review Board (FIRB) sign off as well as Newcrest and Newmont shareholders to vote in support the transaction among other regulatory approvals.

Barrick has been building its copper business organically and said it is exploring copper drilling opportunities in countries such as Chile and Argentina. "We have always said that if you want to be relevant as a gold miner you have to be in copper business," Bristow added. Gold is often a byproduct of copper, a critical metal required for electrification and the transition to a greener economy. Teck last month withdrew its plan to split its coal and metals business after it failed to secure shareholders' approval. Bristow said Glencore's proposal made a "lot of sense" as Glencore could handle Teck's debt and had offered a clean split of Teck's business.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Newmont plumps final bid for Australia's Newcrest to $19.5 bln
▼ + stars: | 2023-04-11 | by ( Melanie Burton | ) www.reuters.com time to read: +4 min

If successful, the deal would lift Newmont's gold output to nearly double its nearest rival Barrick Gold Corp (ABX.TO). Newcrest said on Tuesday it had given U.S.-based Newmont access to its books following the sweetened all-share bid that has received some support from shareholders. The latest bid is 16% higher than Newmont's initial proposal, and represents around a 46% premium to Newcrest's share price on Feb. 3 before Newmont's first bid was announced. Reuters had reported that Newmont was open to raising its offer price for Newcrest. Barrick and miner Sibanye Stillwater Ltd (SSWJ.J) have told Reuters they are not interested in bidding for Newcrest.

☆ Newmont sweetens bid for Australia's Newcrest to $19.5 bln
▼ + stars: | 2023-04-10 | by ( Melanie Burton | ) www.reuters.com time to read: +2 min

Newcrest said on Tuesday it had given U.S.-based Newmont access to its books following the sweetened all-share bid. "Newmont has indicated that the revised proposal represents its best and final price in the absence of a competing proposal," Newcrest said in a statement. The latest bid is 16% higher than Newmont's initial proposal, and represents a 46% premium to Newcrest's share price on Feb. 3 before Newmont's bid was announced. Reuters had reported that Newmont was open to raising its offer price for Newcrest. Rival miners Barrick and Sibanye Stillwater Ltd (SSWJ.J) have told Reuters they are not interested in bidding for Newcrest.

☆ Newmont plumps offer for Australia's Newcrest to $19.5 bln
▼ + stars: | 2023-04-10 | by ( Melanie Burton | ) www.reuters.com time to read: +3 min

Under the revised offer, Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of A$32.87 a share, up from a previous exchange ratio of 0.380 that Newcrest's board unanimously rejected in February. Newcrest shares rose by as much as 7% to A$30.28 but still traded below the implied offer price. The latest bid is 16% higher than Newmont's initial proposal, and represents a 46% premium to Newcrest's share price on Feb. 3 before Newmont's bid was announced, Newcrest said. Reuters had reported that Newmont was open to raising its offer price for Newcrest. The revised deal is just shy of Glencore's $22.5 billion takeover offer for Canada's Teck Resources Ltd's (TECKb.TO) that was announced earlier this month.

Newcrest, which was spun out of Newmont in the 1990s, rejected the offer last week as too low. But one of Newmont's largest shareholders told Reuters it would not want the company overpaying for its rival. Palmer said that regardless of the outcome of the Newcrest bid, Newmont will develop its 16 billion pounds of copper reserves. Newmont said attributable gold production for the fourth quarter edged up to 1.63 million ounces from 1.62 million ounces in the comparable period a year ago. For 2023, Newmont has given a production guidance between 5.7 million and 6.3 million ounces of gold and guided for an all-in sustaining cost between $1,150 and $1,250 per ounce.

The Newcrest acquisition by Newmont, if successful, could result in the enlarged company shedding some assets. Bristow stuck to the company's 'build, not buy' approach and ruled out the possibility that Barrick would launch a counter bid for Newcrest. Newmont's offer implied a 21% premium to Newcrest's share price. Barrick last month reported a 13.4% rise in gold production as access to high-grade ore at its Cortez and Carlin mines in Nevada powered a "strong finish" to the fourth quarter. Production for the year, however, was 4.1 million ounces of gold, down from 4.4 million ounces in 2021.

☆ Cramer's lightning round: I like Nucor over Cleveland-Cliffs
▼ + stars: | 2023-01-25 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Organon & Co : "I do not understand why this stock sells at five times earnings." Loading chart...Alibaba Group Holding Ltd : "It's the only China stock I'd buy." Loading chart...Cleveland-Cliffs Inc : "Why be in Cleveland-Cliffs when you can be in Nucor ?" Loading chart...Barrick Gold Corp : "I think the stock is breaking out here. Disclaimer: Cramer's Charitable Trust owns shares of Honeywell.

☆ Gold slips as dollar gains momentum
▼ + stars: | 2023-01-18 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies Gold will bounce around $1,900 level in near term - analystBarrick set to report highest quarterly gold output for 2022Jan 18 (Reuters) - Gold prices inched lower on Wednesday as the U.S. dollar firmed, while expectations of a slowdown in the pace of Federal Reserve interest rate hikes limited the losses. A stronger dollar tends to make gold more expensive for buyers holding other currencies. If the narrative continues to be that inflation is cooling and interest rates will come down, then it will be bullish for gold." FEDWATCHLower interest rates tend to be beneficial for bullion, decreasing the opportunity cost of holding the non-yielding asset. On the physical front, Canadian miner Barrick Gold Corp (ABX.TO) reported on Tuesday a 13.4% sequential rise in gold production in what could be its highest quarterly output last year.

☆ Cramer's lightning round: Let Extreme Networks cool off a little before buying
▼ + stars: | 2022-12-02 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Loading chart...Paramount Group Inc : "It is very inexpensive, but at the same time, I don't like office real estate. Extreme Networks Inc : "I think it's a very good networking company. ... Let it cool off a little, and then you can do some buying." Loading chart...Super Micro Computer Inc : "It seems too good to be true, which means we have to ... figure out exactly what that company does." Loading chart...Barrick Gold Corp : "It's got a good yield, but the problem is, is that the dollar's got to get weaker.

SummarySummary Companies Barrick now expects to exceed 2022 cost guidanceQ3 profit down 30% as gold production falls by 9%All-in sustaining costs up 22.7% from last yearNov 3 (Reuters) - Barrick Gold Corp (ABX.TO), shares hit their lowest level since March 2020 on Thursday after the world's second-biggest gold miner reported a 30.1% drop in third-quarter profit due to weak production and higher costs. Toronto-listed shares were down 6.9% to 18.26 Canadian dollars, on track for their biggest one-day drop in two years. The cost increase was largely down to a 9% fall in gold production from 1.09 million ounces to 988,000 ounces, CEO Mark Bristow told Reuters in an interview. Barrick remains on track to achieve its 2022 production guidance, Bristow said in a statement. Gold prices declined 8% during the third quarter as global central banks raised interest rates to battle surging inflation.

☆ Gold slides as U.S. inflation data boosts rate-hike bets
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: +1 min

Gold prices fell on Friday, adding to the weekly decline, as a hotter-than-expected U.S. inflation reading cemented bets of another hefty Federal Reserve interest rate hike next month. Spot gold fell 0.3% to $1,660.10 per ounce, as of 0123 GMT. Although traditionally considered an inflation hedge, interest rate hikes to combat soaring prices have reduced bullion's appeal since it yields no interest. Barrick Gold Corp, the world's second-largest gold miner, said on Thursday it expected full-year gold production to be at the lower end of its earlier forecast range. Spot silver dipped 0.3% to $18.81 per ounce, platinum fell 0.5% to $891.67 and palladium was 0.3% lower at $2,101.77.

☆ Barrick's quarterly gold output falls sequentially
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

Oct 13 (Reuters) - Barrick Gold Corp (ABX.TO), on Thursday reported a fall in third-quarter gold output from the previous quarter and said it expects full-year gold production to be at the low end of the range it forecast earlier. The world's second-largest gold miner warned in August it could exceed its gold production cost guidance as miners battle with inflation and rising costs of labor, energy and mining supplies. Barrick earlier this year forecast 2022 gold production of 4.2 million to 4.6 million ounces. It said its third-quarter gold output fell due to weak production from its Veladero, Carlin and Turquoise Ridge mines. Barrick said the average realized price for the precious metal during the quarter was $1,729 per ounce, down from $1,871 per ounce in the second quarter.

☆ Noua președintă a Tanzaniei schimbă abordarea țării privind pandemia COVID
▼ + stars: | 2021-04-06 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Noul președinte al Tanzaniei, Samia Suluhu Hassan, a anunțat va înființa o comisie care să o consilieze în privința stopării pandemiei COVID-19, relatează Bloomberg. Guvernul a oprit publicarea datelor cu privire la infecțiile cu COVID-19 în luna mai a anului trecut, când numărul deceselor ajunsese la 21, și a declarat că nu va cumpăra niciun vaccin. Hassan a cerut, de asemenea, noului ministru al afacerilor externe Liberata Mulamula să „îmbunătățească relațiile Tanzaniei cu comunitatea internațională” și a cerut unei echipe de negociere cu compania Barrick Gold Corp. să soluționeze rapid o dispută privind impozitele. „Vreau ca discuțiile privind impozitele și alte probleme cu Barrick și cu alți parteneri din domeniul minier să fie rezolvate rapid. Să nu ajungem la un punct în care începem să ne încordăm mușchii împotriva investitorilor”, a spus ea.

Persons: Hassan, John Magufuli Organizations: Barrick Gold Locations: Tanzaniei, străinătate, guvernamentali

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