Barrick reports 2022 gold production below its guidance for the year

TORONTO — Barrick Gold Corp. says its gold production for 2022 came in below its guidance for the year.

The company says it produced 4.14 million ounces of gold based on preliminary figures for the year compared with earlier guidance for 4.2 million ounces.

Preliminary copper production figures totalled 440 million pounds, in line with its guidance range for between 420 million and 470 million pounds.

Barrick says preliminary results for its fourth quarter show sales of 1.11 million ounces of gold and 99 million pounds of copper, while production for the final quarter of 2022 totalled 1.12 million ounces of gold and 96 million pounds of copper.

The company says the average market price for gold in the fourth quarter was US$1,726 per ounce and the average market price for copper was US$3.63 per pound.

Barrick will release its full fourth-quarter and full-year results before North American markets open on Feb. 15.

This report by The Canadian Press was first published Jan. 17, 2023.

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The Canadian Press