Barrick produced 120 million pounds of copper in the second quarter, up 25% from the first quarter
Net earnings stood at $488 million, or 27 cents per share, for the quarter ended June 30, compared with $411 million, or 23 cents per share, a year earlier. Copper and gold are often found in the same ore, making copper a common byproduct of gold mines.
In a sign of the impact surging inflation is having on Barrick, all-in sustaining costs per ounce of gold - a measure of the cost of production - for the first half increased 13% from the same period last year, while all-in sustaining costs per pound of copper jumped 15%. Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.
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