By Adriano Marchese


Barrick Gold Corp. said its first-quarter gold and copper production was lower than in the previous quarter, though it said the company is on track to achieve its full-year guidance.

Barrick said Thursday that gold production was 990,000 ounces, while copper reached 101 million pounds in the three months ended March 31.

Sales amounted to 993,000 ounces of gold and 113 million pounds of copper, with an average market price for gold of $1,877 an ounce and $4.53 a pound for copper.

The company said that gold production would be the lowest in the first quarter and increase through the year, and similarly, that copper output is expected to be higher in the second half of the year.

Gold cost of sales per ounce is expected to be 10% to 12% higher than in the fourth quarter, the company said. Total cash costs per ounce of gold are expected to be between 15% and 17% higher, it said.

Cost of sales per pound of copper is expected to be the same as in the prior quarter, it said.

Barrick will release its first-quarter results May 4, it said.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

04-14-22 0750ET