Latest news with #Bristow
Business Upturn
7 hours ago
- Business
- Business Upturn
Kibali, Africa's Largest and Greenest Gold Mine, Continues to Deliver Growth
By GlobeNewswire Published on July 2, 2025, 20:30 IST All amounts expressed in US dollars KINSHASA, Democratic Republic of Congo, July 02, 2025 (GLOBE NEWSWIRE) — Barrick Mining Corporation (NYSE:B)(TSX:ABX) – Drilling results from the ARK-KCD corridor continue to strengthen confidence in its scale and continuity, demonstrating the potential to host significant additional orebodies and further extend the life of mine at Kibali, Africa's biggest and greenest gold mine. Speaking at a media briefing in Kinshasa today, Barrick president and chief executive Mark Bristow said the work on the ARK-KCD system is revealing a coherent geological structure — with mineralization expanding laterally and down plunge — that could significantly grow Kibali's reserve base within the existing footprint. 'Kibali was built with a long-term view and has consistently delivered across production, partnerships and reserve growth. We've replaced every ounce we've mined and more since Kibali poured its first gold in 2013, and the ARK-KCD corridor shows that there's still much more to come,' he said. Kibali continues to contribute meaningfully to the Congolese economy with in-country investment now surpassing $6.3 billion, including $3.1 billion in payments to local contractors and partners. The mine remains the single biggest economic contributor to the north eastern DRC, spanning the Haut-Uele and Ituri provinces. The Kalimva, Ikamva and Ndala satellite pits are being mined under contracts with local businesses, reinforcing Kibali's strong commitment to developing local content. More than 700 Congolese companies are supported through procurement and capacity-building initiatives and all tenders are published jointly by the mine and the DRC's subcontracting regulator, ARSP, in line with best practice transparency. 'Kibali is more than a mine. It's a partnership that anchors the regional economy. It's Congolese-led, Congolese-supplied and built to last. We're proud of the model we've created here — one that delivers shared value every step of the way,' Bristow said. Ongoing operational improvements in the underground mine are expected to deliver material productivity gains from the third quarter with a focus on long-term cost efficiency and performance optimization. Additionally, the commissioning of the 16MW solar plant with an integrated Battery Energy Storage System (BESS) has been completed, raising renewable energy use to 85% with the site operating on 100% renewable energy for six months of the year. 'This is what the energy transition looks like in practice. It's a benchmark not just for Africa but for the global mining industry,' he said. Biodiversity conservation also remains central to Barrick's sustainability strategy. Working with the Congolese Institute for Nature Conservation (ICCN) and African Parks (AP), preparatory work is underway to introduce an additional 64 white rhinos into the Garamba National Park by the end of this year. This follows the successful reintroduction of 16 rhinos in 2023 and forms part of a long-term partnership to restore and nurture biodiversity in the region. Leadership and capacity building continued through the Barrick Academy with 170 Kibali employees attending training during the second quarter, delivering another tangible investment in the career advancement of Congolese mining professionals. On the community front, 41 out of 44 projects funded through the 0.3% community development fund have now been completed, delivering essential infrastructure, education and healthcare support. At the same time, execution of the Cahier des Charges is progressing well, with $4.8 million invested to date. 'Kibali is our blueprint for sustainable growth in the DRC. Built on a foundation that is technically sound, socially rooted, and environmentally responsible, it reflects our long-term vision. The experience and lessons gained here in one of the world's toughest mining environments will guide us as we look to expand our in-country portfolio to include not just more gold but also copper projects,' Bristow said. Enquiries: DRC country manager Cyrille Mutombo +243 812 532 441 Investor and Media Relations Kathy du Plessis+44 20 7557 7738 Email: [email protected] Website: Cautionary Statement on Forward-Looking Information Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes 'forward-looking statements'. All statements, other than statements of historical fact, are forward-looking statements. The words, 'expect', 'plan', 'opportunities', 'develop', 'project', 'progress', 'continue', 'continued', 'deliver', 'positioned', 'additional', 'becoming', 'potential', 'prospective', 'focus', 'ongoing', 'working', 'will', and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick's forward-looking production guidance potential and anticipated production growth from Barrick's organic project pipeline and reserve replacement; Kibali's performance and delivery on its 2024 business plan; potential life of mine extensions and the ability to extend Kibali's Tier One status; Kibali's potential to replace reserves net of depletion; Barrick's exploration strategy and growth opportunities at Kibali, including the potential for further discoveries; Barrick's commitment to the Democratic Republic of Congo ('DRC') and strategy, plans, targets and goals in respect of environmental and social governance issues, including local community development and employment, climate change, renewable energy initiatives, health and safety and biodiversity initiatives; and expectations regarding future price assumptions, financial performance and other outlook or guidance. Forward-looking statements are necessarily based upon a number of estimates and assumptions, including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper or certain other commodities (such as silver, diesel fuel, natural gas and electricity); risks associated with projects in the early stages of evaluation and for which additional engineering and other analysis is required; risks related to the possibility that future exploration results will not be consistent with Barrick's expectations, that quantities or grades of reserves will be diminished, and that resources may not be converted to reserves; risks associated with the fact that certain of the initiatives described in this press release are still in the early stages and may not materialize; changes in mineral production performance, exploitation and exploration successes; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; the speculative nature of mineral exploration and development; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law in the DRC; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with artisanal and illegal mining; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in the DRC or other countries in which Barrick does or may carry on business in the future; risks relating to political instability in the DRC and certain other jurisdictions in which Barrick operates; timing of receipt of, or failure to comply with, necessary permits and approvals; non-renewal of key licenses by governmental authorities; failure to comply with environmental and health and safety laws and regulations; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations relating to related to greenhouse gas emission levels, energy efficiency and reporting of risks; Barrick's ability to achieve its sustainability goals, including its climate-related goals and greenhouse gas emissions reduction targets; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; the liability associated with risks and hazards in the mining industry, and the ability to maintain insurance to cover such losses; damage to Barrick's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to Barrick's handling of environmental matters or dealings with community groups, whether true or not; risks related to operations near communities that may regard Barrick's operations as being detrimental to them; litigation and legal and administrative proceedings; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in the maintenance or provision of required infrastructure and information technology systems; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; risks associated with working with partners in jointly controlled assets; risks associated with Barrick's infrastructure, information technology systems and the implementation of Barrick's technological initiatives, including risks related to cybersecurity incidents, including those caused by computer viruses, malware, ransomware and other cyberattacks, or similar information technology system failures, delays and/or disruptions; risks related to competition in the mining industry; employee relations including loss of key employees; availability and increased costs associated with mining inputs and labor; and risks associated with diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release. Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
The Hindu
2 days ago
- General
- The Hindu
A historic boat sold as scrap being restored in Kochi
Seethi Sajar, 52, a scrap dealer from Thoppumpady, was in for a surprise when he turned up at the Cochin Port Trust, since then renamed as Cochin Port Authority (CoPA), to take delivery of a chunk of scrap he bought in an auction in 2010. When he spotted an archaic wooden boat, valued at around ₹2 lakh, among the materials, he thought little of it. Only when a senior port officer told him that it was the boat used by the late British harbour engineer Sir Robert Charles Bristow who founded the Willingdon Island did he realise its historical significance. 'It was thrilling to even think that I was in possession of the boat used by a historical figure like Bristow Sayippu (foreigner). Since my yard at Karuvelippady didn't have the facilities to restore the boat at that time, I kept it fully wrapped protecting it from rain, sun, and dust,' said Mr. Sajar, who has been in the scrap business and ship dismantling business for the last 35 years. He started the restoration of the boat, which is fully made in teak, three months ago. He was fortunate to find two veteran boat maintenance workers with experience of having handled similar traditional boats in wood in Ponjikkara in Ernakulam district. They have been working on the boat since then. Historic significance 'We have been careful not to tinker with its original structure and design considering its historic significance. The focus is more on restoring it to its old glory rather than renovating. Missing wooden planks are being replaced, some nails are being tightened, steering wheel that has fallen off has been put back, and the engine cover is being replaced. The engine is still in good condition and it will be given a fresh coat of polish,' said Mr. Sajar who claims to have spend around ₹10 lakh for restoration so far. He remains hopeful of wrapping up the works by August in time for Onam. The boat will be then showcased for the public. Mr. Sajar has bought a 3 acre plot at Karuvelippady where he plans to construct a fibre glass enclosure for displaying the boat. Bony Thomas, a journalist, cartoonist and historian, slammed the sale of such a historical object as mere scrap. Bristow is credited with putting Kochi on the global map, found India's biggest man-made island, modernised the Kochi port and built bridges for improved connectivity. 'A scrap dealer showed better sense than the port authorities. Here was a boat, Bristow had used extensively since his arrival in 1920. The boat has been mentioned at three places in his renowned book Cochin Saga. To sell it as mere scrap is height of ignorance,' said Mr. Thomas.
Yahoo
2 days ago
- Business
- Yahoo
Bristow Group Updates Global Sustainability Initiatives, Commits to Responible Growth
Bristow Group Inc. (NYSE:VTOL) is one of the 12 Small Cap Stocks with High Upside Potential. On May 20, Bristow Group Inc. (NYSE:VTOL) released its latest global sustainability report, reaffirming its commitment to responsible growth. The company strengthened its fleet with modernization efforts through an agreement to acquire 10 Leonardo AW189 super-medium helicopters, with an option to purchase 10 more. This agreement is to support CO2 reduction and sustainable aviation fuel usage. Bristow has also signed a letter of intent to participate in an international test arena for zero- and low-emission aviation in Norway. An aerial view of an urban skyline with a fleet of eVTOLs flying in formation. 'Our mission continues to prioritize safety, sustainability, and positive community impact. The achievements highlighted in this report reflect our dedicated efforts to prioritize sustainable business practices, uphold safety as our highest priority, and strengthen our connections with communities where we operate and call home,' said Bristow President and CEO Chris Bradshaw. In addition to the company's sustainable economic developments, on June 12, Bristow entered a strategic partnership with Vertical Aerospace, another global aerospace and technology company. The two entities plan to develop a scalable eVTOL operations platform. The platform will be a catalyst in bringing advanced air mobility (AAM) to commercial operations. Bristow Group Inc. (NYSE:VTOL) is a provider of sustainable and innovative vertical flight solutions. It provides its aviation services to offshore energy companies and the government. While we acknowledge the potential of VTOL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
BBC News
25-06-2025
- Business
- BBC News
Work on Peterborough station quarter could start in August
Work on a city's new station quarter could start in August after £48m of funding was signed off by the works aimed to make travelling easier for the nearly five million people who use Peterborough station each year. Andrew Pakes, Peterborough's Labour MP, said it was a "city that's been overlooked for too long", but the money could help unlock new investment. The Secretary of State for Transport, Heidi Alexander, visited the site on Wednesday and hoped the revamp would kickstart regeneration. The Conservative mayor of Cambridgeshire and Peterborough, Paul Bristow, said the scheme had already been announced two years ago and "more action" was needed. While visiting the station, Alexander said the site felt like it had its "back turned" on the rest of the city. She hoped funding would unlock the opportunity for people to spend more time in the Bristow's concerns about a lack of action on the plans, she said the previous government had made "a lot of promises about investment in public transport infrastructure but didn't have a spending review that went beyond 2024"."We have secured that money," Alexander said. "What I'm doing here today is to talk to local leaders about how they're gonna realise ambitions for Peterborough and the city as a whole, and understanding what the next steps are so the project is delivered as soon as possible." The whole project was expected to cost £ £48m of this was expected to come from the government's Levelling Up Fund, with the rest coming from Peterborough City Council's Towns Fund money and other partners like Network 13 May, the government approved the plans for a station quarter with a new railway station entrance, pedestrianised square and multi-storey car said: "I'm really hopeful we will see the hoardings going up in August and work beginning to start. "It's going to take two years for a transformation of this size, but I know people are impatient for change and want to see spades in the ground and work beginning."Bristow said as mayor he was determined to keep the project on track as it was a "vital and overdue opportunity" to help regenerate Peterborough, and "people now rightly expect to see progress". "The funding for Peterborough Station Quarter was first announced two years ago," he added."Although it was welcome to have that money confirmed last week, the time for announcements is long past. We need delivery, and spades should be in the ground later this year."Furthermore, I sincerely hope that no taxpayers' money was used to facilitate what has been confirmed to be a party political event."Colette Casey, customer experience director at train operator LNER, said nearly five million people used the said the works, including new entrances, would make it easier to move around the station and prevent the "bottleneck that we sometimes see". Follow Peterborough news on BBC Sounds, Facebook, Instagram and X.
Sky News AU
25-06-2025
- Business
- Sky News AU
Russia to continue aiding Iran ‘create headaches' for US and Israel
Australia Strategic Policy Institute Senior Analyst Dr Alex Bristow says Russia and Iran have 'strong links' due to Russia buying Iranian military equipment. Dr Bristow claims Iran's military capabilities have assisted Russia in 'its fight against Ukraine', hence why they will most likely remain strong allies. 'It has a strong interest in Iran being able to get itself back on its feet, rebuild its military capability, create headaches for the US and others in the Middle East,' Dr Bristow told Sky News Australia.
