Barrick Gold On Track to Meet 2024 Output Targets

SEATTLE (Scrap Monster): Barrick Gold Corporation reported preliminary Q1 production results. The company is well on track to achieve its production targets for the year, said the news release.

The miner reported preliminary Q1 production of 940,000 ounces of gold and 39,000 tonnes of copper. Also, the preliminary sales during the quarter totalled 910,000 ounces of gold and 39,000 tonnes of copper.

As declared before, the company expects its 2024 gold and copper production to progressively increase each quarter through the year, mainly driven by ramping up of the Pueblo Viejo plant expansion in Q2 and planned restart of the Porgera mine restart in the latter half of 2024.

The preliminary gold production in Q1 2024 was lower than Q4 2023 mainly as a result of planned maintenance at Nevada Gold Mines and mine sequencing at various sites. Similarly, the dip in preliminary Q1 copper production was mainly attributed to lower grades mined at Lumwana.

Barrick will release its Q1 2024 results before market open on May 1, 2024. Additional additional discussion and analysis regarding its first quarter 2024 production and sales will be provided then.

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