Barrick Gold Announces Preliminary Production Results
Barrick Gold Corporation (NYSE: ABX) Preliminary results indicate the following:
–– Met gold gold operating operating guidance of 7 6 guidance of 7.6--77 8.8 Moz Moz of of production at total cash costs of $460-$475/oz (in line with original guidance)
– Met copper production guidance of 450-460 Mlbs at total cash costs slightly above guidance of $1 60 $1 70/lb Gold: Production Production expected to be slightly lower than 2011 expected to be slightly lower than 2011 Total cash costs expected to be ~15% higher, primarily due to: – inflationary cost pressures – gradd fil e profile – change in production mix
Copper: Production expected to be higher due to a full year of production from Lumwana and initial production at Jabal Sayid expected in H2 2012 Total cash costs expected to be 15 cash costs expected to be 15-20%20% higher primarily due to: higher, primarily due to: – inflationary cost pressures – change in production mix with a full year of Lumwana production – increased costs at Lumwana as it transitions in 2012 from the Malundwe to the Chimiwungo deposit
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