PRECIOUS METALS

Barrick has strong Q2 despite COVID-19

On track for annual guidance

Staff reporter
Pueblo Viejo in Dominican Republic

Pueblo Viejo in Dominican Republic

The company sold 1.2Moz of gold and 123Mlb of copper at average realised prices of US$1,711/oz and $2.43/lb.

COVID-19 impacts were mainly felt at Veladero in Argentina where quarantine restrictions were lifted in April and movement and social distancing restrictions slowed the remobilisation of employees and contractors back to site.

The company also undertook a planned maintenance shutdown at Pueblo Viejo in Dominican Republic and reduced production at Porgera in Papua New Guinea as the mine was placed on care and maintenance.

Shares in Barrick Gold are trading at C$36.60, valuing the company at $65 billion.

 

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