Barrick doubles quarterly profit on improved production
But the miner says it has a ‘great deal of work’ ahead resolving problems relating to its African unit, whose buyout Barrick expects to complete in September
Toronto/Bengaluru — Barrick Gold reported quarterly adjusted profit that nearly doubled on higher production on Monday, and said it had a “great deal of work” ahead resolving problems around its African unit, whose buyout the company expects to complete in September.
Barrick also said it planned to begin the sale process for its 50% stake in the Kalgoorlie operation in Western Australia in the third quarter. Newmont Goldcorp owns the remainder.