Barrick aims to spur production

Article Excerpt

BARRICK GOLD, $27.36, is a Power Buy. The miner (Toronto symbol ABX; TSINetwork Rating: Average) (www.barrick.com; Shares o/s: 1.8 billion; Market cap: $48.0 billion; Yield: 2.0%) has announced that its feasibility study for the expansion of its Lumwana mine in Zambia is expected to be completed by the end of this year, with construction slated to commence in 2025. The expansion aims to transform the mine into a long-life, high-yield operation, placing it among the top 25 global copper producers. The expansion also includes doubling throughput. As a result, plant throughput will grow from 27 million tonnes to 52 million, with annual copper production projected to double. Barrick Gold is a Power Buy. Buy…