Barrick shows marginal rise in quarterly production
Canada-headquartered miner Barrick Gold on Tuesday reported preliminary second-quarter production of 948 000 oz of gold and 43 000 t of copper and reaffirmed its full-year guidance.
The second-quarter gold output increased by a marginal 0.85% quarter-on-quarter, helped by increased production at Turquoise Ridge, in the US, and the continued ramp-up of the Porgera mine, in Papua New Guinea, as well as significant increases at its African mines.
Preliminary second-quarter sales were 956 000 oz of gold and 42 000 t of copper. Barrick reported an average market price for gold of $2 338/oz and an average market price for copper of $4.42/lb.
Barrick is forecasting an increase in second-quarter all-in sustaining costs of between 1% and 3%.
Copper production increased by 7.5% quarter-on-quarter, driven by higher grades and recoveries at Lumwana, in Zambia, following the ramp-up in stripping activities in the first quarter and the planned shutdown in the first quarter.
Second-quarter copper costs would also be higher than the first quarter’s, the company said. However, gold and copper costs would drop in the second half of the year, as production ramped up.
Barrick reaffirmed its production guidance of 3.9-million to 4.3-million ounces of gold and 180 000 t to 210 000 t of copper for the year.
The group will publish its quarterly results on August 12.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...
VISIT SHOWROOM
ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
