mining

Gold and copper production dips at Barrick

Kitco Media
By Michael McCrae
Published
Updated
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Kitco News - Barrick Gold (NYSE:GOLD) produced 4.05 million ounces of gold in 2023, down 2% from 4.14 million ounces produced in 2022.

The number two gold miner announced its preliminary full year and fourth quarter 2023 production results today.

Copper dipped, too, 420 million pounds in 2023 compared to 440 million pounds in 2022. Barrick noted that both copper and gold production was within its guidance. Gold production was also up  for Q4 compared to Q3. 

In Q4 the average market price for gold was up, $1,971 per ounce compared to  $1,726 per ounce a year ago. 

Barrick Gold dropped 5% to $22.44 a share. It was a down day for the gold miners with the GDX off 3.94%. 

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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