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Barrick sees Buzwagi mine in production in 2009

Discussion in 'Jukwaa la Siasa' started by bokoboko, Feb 6, 2008.

  1. b

    bokoboko New Member

    #1
    Feb 6, 2008
    Joined: Sep 3, 2006
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    CAPE TOWN (Reuters) - Barrick Gold Corp. (ABX.TO: Quote), the world's biggest gold miner, said on Tuesday it expected its Buzwagi gold mine in Tanzania to be in production next year at a cash cost of under $300 an ounce.

    "We will be in production in 2009 at a cash cost of under $300 an ounce," Alexander Davidson, Barrick's executive vice president of exploration and corporate development, told the Indaba African mining conference in Cape Town.

    Davidson added that the Toronto-based miner was expecting for much better results from its other mining operations in Tanzania.

    Production at its Bulyanhulu gold mine was hit last year when about a 1,000 workers walked off the job. The mine has since returned to full production.

    Barrick's expansion in Africa comes amid an industry-wide effort by gold miners to find new deposits as existing mines are depleted.

    In 2006 Barrick acquired Vancouver-based Placer Dome in one of the largest gold mining deals in recent history, vastly expanding the Canadian firm's international reach.

    Last month, Barrick Chairman Peter Munk said the company would continue to be opportunistic in searching out further deals, provided they were accretive for earnings.
     
  2. K

    Koba JF-Expert Member

    #2
    Feb 6, 2008
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    ...hollyshit,this is super profit beyond epic proportion,production cost under 300$ and what is the price for gold? around 900$...kweli ng'ombe wa mchovu hazai na hawa jamaa wanachukua more than two milions ounce kila mwaka na hizo ni zile ni za kwenye makaratasi tuu maana ndege zao zinapack everyday moja kwa moja kutoka mashimoni na tulivyo na maofisa incompetent sijui kama wanajua hata wanachofanya,basi ni maumivu tuu na hata leo TZ iwe kisiwa cha mafuta nina uhakika tutakuwa maskini hivi hivi tuu,hivi ni laana au nini?
     
  3. DMussa

    DMussa JF-Expert Member

    #3
    Feb 6, 2008
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    North Mara, Tulawaka, Bulyanhulu, Buzwagi etc
    kwa haraka haraka if each mine gives 500,000 Ounces per year ni 2million ounces. 2m Ounces x USD900 = 1.8Billion USD per year
    In madafu ni TSHS 2,070,000,000,000. Mimi sijui jina la hizo tarakimu ila in short tunahujumiwa na wawekezaji katika sekta ya madini....

    Karatasi zao zimejaa uongo na adjustments kila wakati ili tu ionekane wanatumia gharama kubwa kuendesha migodi na auditors ati ni ALEX STEWART.....uuuhh tumeliwa!
     
  4. Masanja

    Masanja JF-Expert Member

    #4
    Feb 6, 2008
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    Hapana mkuu, tunahujumiwa na viongozi wetu TULIOWACHAGUA wenyewe na wala si wawekezaji. Hata kama ni wewe ungependa upate profit katika capital yako. Its all about ourselves to blame for our woes!
     
  5. M

    Mwakilishi JF-Expert Member

    #5
    Feb 6, 2008
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    Well said Masanja,
    I couldn't have said it better!
     
  6. DMussa

    DMussa JF-Expert Member

    #6
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    Thanx Masanja....
    Ni viongozi ndo wanatuhujumu.....!
     
  7. K

    Koba JF-Expert Member

    #7
    Feb 6, 2008
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    Na hii ndio ile mikataba ya miaka 25?
     
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