Barrick’s Solid 2Q Puts it Back on Track to Hit Full-Year Guidance and Debt Reduction Goal
Gold production picked up during the second quarter, as Barrick produced roughly 1.4 million ounces, compared with 1.3 million ounces in the prior-year quarter. With first-half 2017 production of more than 2.7 million ounces, the company is back on track to hit its full-year guidance of 5.3 to 5.6 million ounces. First-half all-in sustaining costs of $730 per ounce put Barrick in position to hit the low end of guidance of $720 to $770 per ounce. In addition, Barrick had reduced debt by $487 mill...Barrick Gold is engaged in the production and sale of gold, as well as related activities such as exploration and mine development. Co. also produces copper and hold interests in oil and gas properties located in Canada. Co.'s mining operations are concentrated in three regional business units: North America, South America and Australia Pacific. Co. also hold a 73.9% equity interest in African Barrick Gold plc that owns gold mines and exploration properties in Africa. Co.'s copper business unit contains producing copper mines located in Chile and Zambia; and a mine under construction located in Saudi Arabia.
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