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Inflation is finally starting to bite gold giant Barrick
By James Attwood
Bloomberg News
Thursday, April 13, 2022
Barrick Gold Corp., which had fared better than other bullion producers in navigating a rising cost environment, is finally encountering some inflationary headwinds.
In a preliminary report today, Toronto-based Barrick said gold production in the first quarter was lower than the prior quarter, in line with previous guidance.
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At the same time, all-in sustaining costs per ounce are expected to be 19-21% higher than the fourth quarter. Apart from a 20% drop in gold ounces sold, no other reasons were given for the cost increase. ...
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