logo
Plus   Neg
Share
Email

Barrick Gold Updates Full-year Gold Production Outlook - Quick Facts

Barrick Gold Corp. (ABX,ABX.TO) announced the company now expects full-year gold production of 5.3-5.6 million ounces, down from previous range of 5.6-5.9 million ounces. A significant portion of the reduction is attributable to the anticipated sale of 50 percent of Veladero, which is expected to close at the end of the second quarter.

Barrick produced 1.31 million ounces of gold in the first quarter at a cost of sales of $833 per ounce, in line with plan. This compares to 1.28 million ounces at a cost of sales of $810 per ounce in the prior-year period. Gold production in the first quarter was impacted by the timing of autoclave maintenance at the Pueblo Viejo mine in the Dominican Republic. Heavy rains, road closures. and power outages associated with the El Nino weather pattern also impacted production at the Lagunas Norte mine in Peru.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Sears Holding Corp. Chairman Eddie Lampert won a bankruptcy auction for the struggling department store chain that will keep it in business, reports said citing people familiar with the matter. Lampert reportedly submitted an improved bid for the parent company of Kmart and Sears chains through his hedge fund ESL Investments. Bank of America (BAC) reported fourth-quarter net income of $7.3 billion, up 208% from prior year, driven by continued strong operating leverage and asset quality, as well as the benefit of tax reform impacting 2018. Fourth-quarter net income was up 39% adjusting for the impact of the Tax Act in prior... IBM said it joined with Ford Motor Co., Huayou Cobalt, LG Chem and RCS Global to launch a blockchain pilot program to trace and validate ethically sourced minerals. Separately, IBM has collaborated with mining technology company MineHub Technologies, Inc. for a blockchain technology-based solution to use in the global mining and metals supply chain.
Follow RTT