Skip to main content

Miner Barrick on Thursday reported a near 9% fall in its first-quarter gold production from the previous quarter, dented in part by lower grades at its Pueblo Viejo mine in the Dominican Republic.

The company’s total preliminary gold production fell to 1.10 million ounces in the quarter ended March 31 from 1.21 million ounces in the previous quarter.

Barrick said output of the yellow metal at the Pueblo Viejo mine fell nearly 14%.

The Canadian miner, which recently reached a deal with the Papua New Guinea government to restart operations at its disputed Porgera mine, said it remains on track to achieve its 2021 outlook.

Barrick, which aims to increase its exposure to copper because of its expected higher use in electrification, also reported a drop in production of the red metal.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.

Report an error

Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 01/03/24 4:00pm EST.

SymbolName% changeLast
ABX-T
Barrick Gold Corp
+2.43%20.27
GOLD-N
Barrick Gold Corp
+1.91%14.94

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe