Barrick Gold has reported net earnings of US$370 million on revenues of $3.2 billion for the quarter to June 30, a 21.3% increase over the prior year period and 25.4% increase over the March quarter.The company produced 948,000oz of gold and 43,000t of copper, a slight increase over the March quarter, although 6% and 4% lower, respectively, than in the prior year period. It said its results are in line with guidance and that it is on track for a strong second semester.
Barrick said key projects to boost production and expand the asset base continue to advance, including the recently permitted Goldrush mine in Nevada, USA, which is ramping up to production of more than 400,000ozpa by 2028. Meanwhile, the Pueblo Viejo expansion in the Dominican Republic is nearing completion and producing more than 800,000ozpa.Goldrush underground production is aiming for a more than 35% increase next year. It currently hosts indicated resources of 9.8Moz grading 5.