The Carlin and Cortez mines are part of Nevada Gold Mines, a joint venture between Barrick and Newmont Corp.
The company, which is scheduled to release its first-quarter results on May 4, said the average market price for gold in the quarter was $1,877 per ounce, up from $1,795 per ounce in the prior quarter.
Barrick said it expects the company’s all-in sustaining costs (AISC) for gold, a key industry metric, to be 19% to 21% higher from the fourth quarter, while AISC for copper is expected to be 1% to 3% lower.
Miners have been hit hard by a pandemic-led rise in expenses as they implement prevention measures to ensure the safety of workers and surrounding communities, with supply-chain issues due to global restrictions on movement adding to their woes.
Barrick said its gold production in 2022 is expected to increase through the year, while copper production is expected to be higher in the second half.
The company’s copper…
