Production at Barrick drops in Q1 on planned maintenance, stock drops

Barrick Gold's Q1 production was off 10% to 940,000 total attributable ounces for gold, and copper was down 21% to 40,000 tonnes compared to the last quarter."As planned, preliminary Q1 gold production was lower than Q4 2023 mainly as a result of planned maintenance at Nevada Gold Mines and mine sequencing at various sites," said the company in a news release.

Due to lower production, costs per ounce was higher. The average market price for gold in Q1 was $2,070 per ounce while the average market price for copper in Q1 was $3.83 per pound.is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking.

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Source: Financial Digest (financialdigest.net)

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