Canadian miner to increase gold, copper production

Photo: Barrick

Canadian miner Barrick Gold Corporation has re-ported lower results for the first quarter of 2021, declaring it expected out-put to increase in the second half of this year.


“Production in the latter half of the year is expected to be higher than the first, mainly due to mine sequencing at Nevada Gold Mines, the commis-sioning of the new leach pad facility at Veladero in Argentina, the ramp-up of underground mining at Bulyanhulu and higher anticipated grades at Lumwana in Zambia,” Barrick Gold said in a statement.


In the first three months of this year, the miner produced some 1.1 million oz of gold and 93 million lb of copper, down 8.7 and 21.8 percent com-pared with the fourth quarter of 2020. Despite this, stronger copper prices allowed the company to expand its revenues.


“Copper revenues increased 31% compared to the prior quarter due to stronger copper prices driving solid profitability with disciplined cost con-trol,” the statement said.