Barrick Reports Preliminary Full Year and Fourth Quarter Production Results
January 16 2018 - 5:01PM
All amounts expressed in U.S. dollars
Barrick Gold Corporation (NYSE:ABX) (TSX:ABX) (“Barrick” or the
“Company”) today announced preliminary full year gold production of
5.32 million ounces for 2017, in line with the Company’s adjusted
guidance of 5.30-5.50 million ounces, and preliminary full year
gold sales of 5.30 million ounces. Preliminary fourth quarter gold
production was 1.34 million ounces, and preliminary fourth quarter
gold sales were 1.37 million ounces. The average market price for
gold in the fourth quarter was $1,275 per ounce.
Preliminary full year copper production was 413
million pounds, slightly below the Company’s adjusted guidance of
420-440 million pounds for 2017, but in line with our original full
year guidance of 400-450 million pounds. Preliminary full year
copper sales were 405 million pounds. Preliminary copper production
in the fourth quarter was 99 million pounds, and preliminary copper
sales in the fourth quarter were 107 million pounds. The average
market price for copper in the fourth quarter was $3.09 per
pound.
Barrick will provide additional discussion and
analysis regarding fourth quarter production and sales when the
Company reports quarterly results on February 14, 2018, followed by
a conference call and webcast on February 15 at 8:00 am ET. The
following table includes preliminary gold and copper production and
sales results from our operations:
|
Production |
|
Sales |
|
Three months ended December 31, |
Twelve months ended December 31, |
|
Three months ended December 31, |
Twelve months ended December 31, |
|
2017 |
2016 |
2017 |
2016 |
|
2017 |
2016 |
2017 |
2016 |
Gold (equity ounces (000s)) |
|
|
|
|
|
|
|
|
Barrick
Nevada1 |
530 |
601 |
2,312 |
2,155 |
|
539 |
582 |
2,357 |
2,162 |
Pueblo
Viejo2 |
182 |
189 |
650 |
700 |
|
182 |
197 |
637 |
700 |
Lagunas
Norte |
113 |
110 |
387 |
435 |
|
114 |
98 |
397 |
425 |
Veladero3 |
110 |
177 |
432 |
544 |
|
114 |
194 |
458 |
532 |
Turquoise
Ridge4 |
64 |
65 |
211 |
266 |
|
81 |
69 |
222 |
257 |
Acacia5 |
95 |
136 |
491 |
530 |
|
94 |
134 |
379 |
521 |
Other Mines
– Gold6 |
245 |
238 |
840 |
887 |
|
248 |
245 |
852 |
906 |
Total |
1,339 |
1,516 |
5,323 |
5,517 |
|
1,372 |
1,519 |
5,302 |
5,503 |
|
|
|
|
|
|
|
|
|
|
Copper (equity pounds (millions)) |
99 |
101 |
413 |
415 |
|
107 |
107 |
405 |
405 |
|
|
|
|
|
|
|
|
|
|
INVESTOR CONTACTDaniel
OhSenior Vice PresidentInvestor Engagement and
GovernanceTelephone: +1 416 307-7474Email: doh@barrick.com
MEDIA CONTACTAndy
Lloyd Senior Vice PresidentCommunicationsTelephone: +1 416
307-7414Email: alloyd@barrick.com
ENDNOTES
- Includes our 60% equity share of Arturo.
- Reflects our 60% equity share of Pueblo Viejo.
- Reflects our 50% equity share of Veladero from July 1, 2017
onwards.
- Reflects our 75% equity share of Turquoise Ridge.
- Reflects our 63.9% equity share of Acacia.
- Includes: Golden Sunlight; Hemlo; Porgera on a 47.5% basis;
Kalgoorlie on a 50% basis; and Bald Mountain and Round Mountain up
to the effective date of their sale, being January 11, 2016.
TECHNICAL INFORMATIONThe
scientific and technical information contained in this press
release has been reviewed and approved by Steven Haggarty, P. Eng.,
Senior Director, Metallurgy of Barrick who is a “Qualified Person”
as defined in National Instrument 43-101 – Standards of Disclosure
for Mineral Projects.
FOURTH QUARTER 2017
RESULTSBarrick will report detailed fourth quarter results
on Wednesday, February 14, after market close, followed by a
conference call and webcast on February 15 at 8:00 am ET.
Toll Free (U.S. and Canada):
1-800-319-4610International: +1 416 915-3239
The webcast and presentation materials will be
available on Barrick’s website at www.barrick.com. The conference
call will be available for replay by phone at 1-855-669-9658 (U.S.
and Canada toll free), and +1 604 674-8052 (international), access
code 1928.
CAUTIONARY STATEMENTS REGARDING
PRELIMINARY FOURTH QUARTER PRODUCTION AND SALES FOR
2017Barrick cautions that, whether or not expressly
stated, all 2017 figures contained in this press release including
production levels and sales are preliminary, and reflect our
expected 2017 results as of the date of this press release. Actual
reported fourth quarter production levels and sales are subject to
management’s final review, as well as review by the Company’s
independent accounting firm, and may vary significantly from those
expectations because of a number of factors, including, without
limitation, additional or revised information and changes in
accounting standards or policies, or in how those standards are
applied. Barrick will provide additional discussion and analysis
and other important information about its fourth quarter production
levels and sales when it reports actual results on February 14,
2018. Barrick further cautions that the information contained in
this press release does not provide a complete picture of the
Company’s overall performance and profitability, as this press
release does not address any of the costs associated with the
production of gold and copper reported herein. For a complete
picture of the Company’s financial performance, it will be
necessary to review all of the information in the Company’s fourth
quarter financial report and related MD&A. Accordingly, readers
are cautioned not to rely solely on the production information
contained herein.
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