Barrick Gold lowered its dividend as net earnings dropped 50%. Find out more.
r, compared to the second quarter. Gold production fell five per cent to 988,000 ounces while total cash costs rose four per cent to US$891 per ounce.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way.
Higher energy prices accounted for half of the company’s rise in costs. Bristow said that “inflationary pressures remain a challenge,” but described Barrick as “obsessed” with finding a diversity of suppliers for each consumable item it needs to run its business. The dividend reduction led Bristow to discuss a perennial topic in the gold mining sector: the increase in investments from passive funds, such as exchange-traded funds, and a relative decrease in active funds that specialize in investing in precious metals mining companies.
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