BARRICK GOLD CORPORA

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Barrick Gold : Meets Company's Production Targets

01/14/2021 | 07:41am

By Matt Grossman

Barrick Gold Corp. Thursday said it met its own targets for gold and copper production in 2020 based on preliminary results.

The Toronto-based mining company's full-year gold production was 4.8 million ounces, Barrick said, compared with the company's guidance for 4.6 million to 5 million ounces. Copper production was 457 million pounds, within the guidance range of 440 million to 500 million pounds.

A strong performance from the company's Pueblo Viejo site helped boost gold production in the latest quarter, while the completion of plant maintenance at the Lumwana site was behind the company's copper results, Barrick said.

Gold sales are expected to have declined in the fourth quarter compared with the third quarter because the third quarter included the export of stockpiled concentrate in Tanzania, according to the company. Copper sales will also likely tick down sequentially in the fourth quarter due to the timing of shipments at Lumwana, Barrick said.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

01-14-21 0740ET

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