Canadian Mining Journal

News

GOLD: Barrick has strong Q2, sees annual production at top of guidance



TORONTO – Barrick Gold dropped its Q2 numbers on Aug. 12 with gains in revenue, net earnings, as well as production of both gold and copper. Even all-in sustaining costs, which at $869 per oz. of gold, were up 5% from Q1 2019 and 1.5% from Q2 2018. (All figures are U.S. dollars.)

Gold production in the second quarter was 1.35 million oz., compared to the same quarter in 2018. Given its guidance number of between 5.1 million oz. and 5.6 million oz. for 2019, Barrick looks to be on track to finish near the upper end of its estimate.

Barrick’s copper production was 97 million lb. during Q2 2019, compared to 83 million a year earlier. All-in sustaining costs were $2.28 per lb. of copper.

The company has declared a quarterly dividend of $0.04 per common share, payable on Sept. 16, 2019 to shareholders of record at the end of business on Aug. 30.

Particulars for individual projects are available in the presentation for the second quarter that is  posted at www.Barrick.com.