Barrick Gold Met Annual Guidance Target for 2021

SEATTLE (Scrap Monster): Barrick Gold Corporation announced preliminary Q4 and full year 2021 production results. The company met its annual guidance targets for the third consecutive year, in the midst of challenges posed by the Covid-19 pandemic. The company will announce the fourth quarter and full year 2021 results on February 16, 2022 before market opening.

The preliminary gold production for 2021, at 4.44 million ounces (Moz), was within the guidance range of 4.4-4.7 Moz. The Africa & Middle East and Latin America & Asia Pacific regions finished the year at the higher end of their guidance range. The preliminary Q4 gold production totalled 1.20 Moz, whereas the gold sales for the quarter stood at 1.23 Moz, the press release said.

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The preliminary copper production of 415 million pounds for 2021 was also within the guidance range of 410-460 million pounds. The quarterly production totalled 113 million pounds of copper, higher than Q3 2021, mainly on account of increased throughput levels at Lumwana. Meantime, the preliminary Q4 copper sales were lower than production.

The average market price for gold and copper were $1,795 per ounce and $4.40 per pound respectively during the fourth quarter of 2021.