Barrick revenue hits $5.07bn as gold prices climb
TANZANIA, Nov. 10 -- BARRICK Mining Corporation has recorded a 22 per cent increase in third-quarter this year revenue to 5.07 billion US dollars, driven by higher realised gold prices and improved operational performance across its mining portfolio.
In its results for the three months ended September 30, this year, the global mining company reported gold production of 816,000 ounces, representing a three per cent increase from the previous quarter, although two per cent lower than the corresponding period last year.
Barrick attributed the yearon-year production decline largely to extreme weather conditions at its Veladero operation and delayed access to high-grade ore at North Mara in Tanzania, which the company expects to access in th...
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