All\u002Din\u002Dsustaining cost to produce an ounce of gold was likely 7 per cent to 9 per cent higher in the second quarter
“Comprehensive programs to counter the spread of COVID-19 are in place at all of Barrick’s operations and it continues to take the necessary steps to manage the impact of the pandemic on its business,” Chief Executive Officer Mark Bristow said in the statement.
Barrick is still on track to meet its 4.6 million to 5 million annual guidance, it said. The miner had previously guided that second-quarter preliminary gold production would be lower than in the first quarter. Barrick said it produced 1.15 million ounces in the period, beating the average analyst estimate.
The company also continued to benefit from strong gold prices, which it said averaged US$1,711 an ounce in the second quarter. The statement was released before the start of regular trading in New York, where Barrick slipped 0.9 per cent as of 7:45 a.m.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This gold rally has been nothing short of historic and investors and analysts are betting it's far from overUnlike in prior years, it\u0027s not just the \u0027gold bugs\u0027 who feel confident about this investment\u0027s potential
Read more »
COVID-19 pandemic could pose cost and delay challenges to Nova Scotia hospital project: auditor-generalMichael Pickup released his second report today on the expansion of the Halifax Infirmary and the construction of a community outpatient centre, which has an estimated $2-billion price tag
Read more »
Manitoba extends state of emergencyThe Manitoba government announced on Tuesday it’s extending the province-wide state of emergency to protect residents amid the COVID-19 pandemic.
Read more »
Tori Stafford’s Dad Wants People To ‘Be Kind’ For Her 20th BirthdayRandom acts of kindness are especially important now during the pandemic, Rodney Stafford said.
Read more »
Western Separatist Sentiments Down Since Liberals Re-Elected: PollEven before the COVID-19 pandemic, Albertans said they felt more “respected” in Canada.
Read more »