In a positive start to the year, Barrick Gold Corporation announced it had made good progress in achieving its short-term goals as well as its full-year objectives during the first quarter.
After setting a production record at the Kibali mine in 2018, the Company announced that the operation is on track for another record performance in 2019. Barrick is also rapidly progressing the implementation of the joint venture agreement signed with Newmont in March, which will create the world’s single-largest gold producer and allow both partners to realize the enormous potential of Nevada’s mineral endowment.
Reflecting a solid operating performance across its portfolio, Barrick announced preliminary first quarter sales of 1.37 million ounces of gold and 103 million pounds of copper, as well as preliminary first quarter production of 1.37 million ounces of gold and 106 million pounds of copper — in line with the Company’s operating plans and guidance. The average market price for gold in the first quarter was $1,304 per ounce, while the average market price for copper in the first quarter was $2.82 per pound.
Barrick will provide additional discussion and analysis regarding first quarter production and sales when the Company reports quarterly results before North American markets open on May 8, 2019, followed by a live presentation by President and CEO Mark Bristow at 11:00 EDT, linked to a conference call and webcast.