Barrick's second-quarter gold output rises about 5% (updated)

Aion-Tech Solutions

14/07/2022 12:16

(Adds gold price, copper production, background)
    July 14 (Reuters) - Barrick Gold Corp  ABX.TO   GOLD.N  on
Thursday reported a 5.4% rise in second-quarter gold output
compared to the previous quarter, driven by stronger performance
at its Carlin and Turquoise Ridge mines in Nevada.
    As the Ukraine crisis exacerbated longstanding global supply
chain issues, Barrick took a slew of measures to mitigate the
impacts, including nearly doubling its inventory of key mining
supplies such as cyanide, explosives, and steel balls used for
milling.  urn:newsml:reuters.com:*:nL2N2X31XO
    The world's second-biggest gold miner said the average
market price for gold in the quarter was $1,871 per ounce,
compared to $1,877 per ounce in the previous quarter.
    Total preliminary gold production for Barrick stood at 1.04
million ounces in the quarter ended June 30, up from 990,000
ounces in the first quarter.
    Copper production in the reported quarter rose to 120
million pounds from 101 million pounds in the prior quarter,
driven by higher production at its Lumwana mine in Zambia,
southern Africa.

 (Reporting by Ruhi Soni in Bengaluru; Editing by Shinjini
Ganguli)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))