CA - Barrick says on track to hit full-year gold copper production guidance
2023-07-13 07:21:36 ET
Barrick Gold ( NYSE: GOLD ) reported on Thursday preliminary Q2 production of 1.01M oz of gold and 107M lbs of copper, saying it remains on track to achieve full-year gold and copper guidance.
The company said it expects production will increase through the year, with H2 coming in above H1 levels.
Q2 gold production exceeded Q1, primarily due to higher output at Carlin, driven by a return to normal throughput levels following significant maintenance in the January-April period, as well as higher grades at both Kibali and Veladero; Barrick ( GOLD ) expects Q2 all-in sustaining costs per oz will decline by as much as 2% compared to Q1.
Q2 copper production was higher than Q1, driven primarily by Lumwana; the company expects all-in sustaining costs per lb will come in 7%-9% lower than Q1.
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Barrick says on track to hit full-year gold, copper production guidance