Barrick Gold Says FY22 Prelim Gold Production Below Its Expectations

Barrick Gold Corporation (GOLD), a Canadian Gold and copper producer, said in a preliminary report on Tuesday that it failed to meet its gold production forecast for the fiscal 2022. However, copper output has met its previous expectations.

For the full-year, the miner recorded yellow metal production of 4.14 million ounces, compared with its previous expectation of 4.2 million ounces.

The firm has produced 440 million pounds of copper for 2022, which was in line with the guidance range of 420 million pounds to 470 million pounds.

According to the preliminary results, company has produced 1.12 million ounces of gold and 96 million pounds of copper. It has also sold 1.11 million ounces of gold and 99 million pounds of copper.

The average market price for gold in the final quarter was at $1,726 per ounce, whereas the average market price for copper stood at $3.63 per pound.

Barrick is scheduled to release its full-year results on February 15.

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