Canada's Barrick Gold Corp , would be open to taking over Newmont's stake in its Nevada Gold Mines joint venture, CEO Mark Bristow said on Wednesday, after Newmont's $16.9 billion bid for Newcrest ramped up pressure on gold miners to do deals.
as access to high-grade ore at its Cortez and Carlin mines in Nevada powered a "strong finish" to the fourth quarter. Earnings for the quarter came in at 13 cents per share, while analysts on average had expected 11 cents, according to Refinitiv IBES.
Production for the year, however, was 4.1 million ounces of gold, down from 4.4 million ounces in 2021. Barrick's all-in sustaining costs , an industry metric that reflects total expenses, rose to $1,242 per ounce of gold, a 28% increase from a year earlier. Its cost of producing copper jumped by 21%, to $3.18 per pound from $2.62 per pound.
Barrick expects costs to stabilize or lower slightly in 2023, forecasting costs of $1,170 to $1,250 per ounce of gold and between $2.95 and $3.25 per pound of copper.On the operational side, seven Barrick workers have died on the job since 2022. Bristow admitted to these issues, calling it a personally "traumatic" time for him.
Reporting by Divya Rajagopal, Helen Reid and Arshreet Singh; Editing by Sriraj Kalluvila, Mike Harrison and Josie Kao
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