TORONTO - Barrick Gold Corp. says it’s exploring all options including the possible sale of its Lumwana mine in Zambia as the government considers increased taxes. While acknowledging that the government is under pressure to increase revenue, company chief operating officer Willem Jacobs said the changes would hit the mine’s profitability. Barrick Gold Corporation Chairman John Thornton speaks during company's annual general meeting in Toronto on April 28, 2015. Lumwana produced 256 million pounds of copper in 2017 and had a carrying value of US$849 million that year. Barrick, which completed its takeover of Africa-focused Randgold Resources at the start of the year, said it plans to divest some assets as part of the deal.

Source: thestar January 21, 2019 16:41 UTC