Barrick's second-quarter gold output falls 5.4%

Analysts on average had expected production to come in at 1.15 million ounces, according to Refinitiv IBES. The Canadian miner, which hopes the Porgera gold mine in Papua New Guinea (PNG) could restart this year after reaching an agreement with the government in April, said it remains on track to achieve its 2021 forecast. The miner's copper production rose 3.2% to 96 million pounds from the prior quarter. Barrick is scheduled to report second-quarter results on Aug. 9.

Barrick Gold Corp said on Thursday second-quarter gold production fell 5.4% from the previous quarter, dented by planned maintenance shutdowns at Nevada Gold Mine in the United States and Pueblo Viejo in the Dominican Republic.

Total preliminary gold production fell to 1.04 million ounces in the three months ended June 30, from 1.10 million ounces in the previous quarter, the company said. Analysts on average had expected production to come in at 1.15 million ounces, according to Refinitiv IBES.

The Canadian miner, which hopes the Porgera gold mine in Papua New Guinea (PNG) could restart this year after reaching an agreement with the government in April, said it remains on track to achieve its 2021 forecast. The miner's copper production rose 3.2% to 96 million pounds from the prior quarter.

Barrick is scheduled to report second-quarter results on Aug. 9.

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