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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.

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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.

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Barrick Gold Corp
Barrick Gold Corp

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