Barrick Gold's Dushnisky: Gold Is Favorable Near Term

Kelvin Dish Nikki, president of Barrick Gold Corporation, discusses the recent cyanide solution leak at Veladero mine in Argentina and the subsequent government suspension. Despite the leak being smaller than last year's, the provincial government decided to suspend operations. Barrick Gold is working on remediation and hopes to resume production soon. The company is also focused on debt reduction and potential acquisitions, aiming to enhance shareholder value. The discussion also touches on the impact of Federal Reserve decisions on gold prices, with market speculation causing volatility.

What was the cause of the recent leak at the Veladero mine?

• A chemical reaction caused an explosion.

• A block of ice fell and damaged a pipe.

• Heavy rainfall flooded the mine.

• An earthquake disrupted the mining operations.

How does Barrick Gold Corporation view the suspension of the Veladero mine?

• As a result of federal government pressure.

• As a major setback for the company.

• As a sensible decision during remediation.

• As an unnecessary political move.

What is Barrick Gold Corporation's approach to potential acquisitions?

• Acquire assets to increase production regardless of cost.

• Focus on acquisitions that align with their cost structure.

• Acquire only if gold prices are expected to rise.

• Avoid any acquisitions to focus solely on debt reduction.

What is the company's target for debt reduction by the end of the year?

• $3 billion

• $1 billion

• $2 billion

• $5 billion

What factor is currently influencing gold prices according to the interview?

• Technological advancements in mining

• Global mining output

• Federal Reserve interest rate decisions

• Political stability in Argentina