Opinion: Gold’s red line offers a long-term entry 

The Canadian miner’s subsidiary signed a definitive agreement to acquire the asset from Industrias Peñoles.

The Mining Association of Canada says the total 10-year projected value of $82 billion for new projects remains nearly 50% below the 2014 level of $160 billion.

The Scottish miner also said that slower than anticipated labour build-up and training will impact March production.

The eye-popping figure pales in comparison to the astronomical $1 trillion in coal investments held by 4,488 institutional investors as of January this year.

According to fintech company UNI, there are “reasons for optimism.”

The miner beat expectations with a small fall in 2020 earnings, but boosted dividend as soaring commodity prices helped it recover from covid-19 disruptions in the first half of the year.

This updated resource estimate will form the basis of the upcoming bankable feasibility study due out in Q2 2021.

The Canadian company broke its own record in 2020 with total gold production of 1,040,737 ounces.

The exploration campaign is part of the Barrick Alliance signed with Japan Gold back in 2020.