Barrick Gold Q1 profit surges, sees higher output ahead
Barrick Gold reported a 78% rise in first-quarter profit on Wednesday helped by rising gold and copper prices, and said it was on track to meet annual guidance. Copper prices have gained on the back of massive economic stimulus while gold has moved higher as a hedge against inflation. Barrick said realised gold prices climbed 11.8% to $1 777/oz, while gold production fell to 1.10-million from 1.25-million ounces due partly to lower grades at its Pueblo Viejo mine in Dominican Republic. Production in the second half is expected to be…
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