April 15 (Reuters) – Barrick Gold Corp.
ABX.TO
GOLD.N maintained its outlook for the full year on Thursday
gold
Production fell by almost 9% in the first quarter and was also forecasting higher production in the second half of the year as the Canadian miner starts up some operations.
Prices for gold and
copper
Record highs or multi-year highs were recently reached as a result of stimulus measures that helped free mining companies from disruptions to production due to the COVID-19 pandemic.
The company’s total preliminary gold production decreased from 1 to March 31 for the quarter ended March 31. 21 million ounces in the previous quarter down to 1.10 million ounces, partly due to lower grades at the Pueblo Viejo mine in the Dominican Republic.
Yellow metal production at the Pueblo Viejo mine decreased nearly 14% Barrick said, adding that the total cost per ounce of gold is expected to be 8% to 10% higher than in the previous quarter.
Barrick announced that it is looking to increase its exposure to copper due to its expected increased use in electrification also saw a nearly 22% decrease in red metal production to 93 million pounds.
The miner expects copper production in the two he half of 2021 will be stronger than the first half, mainly due to higher grades from the Lumwana copper mine in Zambia.
recently entered into an agreement with the government of Papua New Guinea to stop the operation of the controversial Porgera mine.
We encourage you to use comments to connect with users, share your perspective, and ask questions to authors and each other. However, in order to maintain the high level of discourse that we all appreciate and expect, please note the following criteria:
Offenders of spam or abuse will be deleted from the website and, at Investing.com’s discretion, excluded from future registration.
Drop here or a picture
Upload from your computer
Supported formats: * .jpg, * .png, * .gif up to 5 MB
Disclosure of Risks: Fusion Media assumes no liability for any loss or damage arising out of reliance on the information contained on this website, including data, quotes, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible. Margin Forex trading carries a high level of risk and is not suitable for all investors. Trading or investing in cryptocurrencies carries potential risks. Cryptocurrency prices are extremely volatile and can be influenced by external factors such as financial, regulatory or political events. Cryptocurrencies are not suitable for all investors. Before deciding to trade forex or other financial instruments or cryptocurrencies, you should carefully weigh your investment goals, experience, and risk appetite. Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) as well as forex and cryptocurrency prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data. Fusion Media may be compensated by the advertisers who appear on the site based on your interaction with the advertisements or advertisers
Ref: https://in.investing.com
