Barrick says gold production was higher than the first quarter due to stronger performance across its portfolio
says according to its preliminary figures it produced 1.04 million ounces of gold and 120 million pounds of copper in its second quarter and remains on track to achieve its production guidance for the year.
The production came as its sales totalled 1.04 million ounces of gold and 113 million pounds of copper. The mining company says gold production was higher than the first quarter due to stronger performance across its portfolio, particularly at its Carlin, Turquoise Ridge, Veladero, Bulyanhulu and North Mara operations, while copper production was also higher than the first quarter, driven by its Lumwana mine.
Barrick says the average market price for gold in the second quarter was US$1,871 per ounce, while the average market price for copper was US$4.32 per pound. However, it says the closing price at the end of the quarter was US$3.83 per pound. The company says its realized copper price is expected to be 13 to 15 per cent below the average second-quarter market price, primarily due to provisional pricing adjustments that reflect the drop near the end of the quarter.Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Caledonia Mining reports record quarterly gold production in Zimbabwe, reiterates its annual guidanceCaledonia Mining reports record quarterly gold production in Zimbabwe, reiterates its annual guidance kitconews gold silver investing economics mining finance metals
Read more »
Victoria Gold produces 32,055 ounces of gold in Q2, expects production growth in second half of 2022Victoria Gold produces 32,055 ounces of gold in Q2, expects production growth in second half of 2022 kitconews gold silver economics investing finance metals mining
Read more »
Gold price falls to session lows as U.S. CPI rises 9.1% in June(Kitco News) - The gold market remains under pressure as inflation, falling to session lows after inflation pressures rose more than expected in June.
Read more »
PureGold postpones guidance, announces strategic reviewA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Read more »
Royal LePage cuts home price forecast for 2022 - BNN BloombergRoyal LePage is cutting its expectations for the growth in home prices this year after it says prices in the second quarter fell compared with the first three months of the year.
Read more »
Gold busts year-to-date supportKitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Read more »