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SummarySummary Companies Barrick now expects to exceed 2022 cost guidanceQ3 profit down 30% as gold production falls by 9%All-in sustaining costs up 22.7% from last yearNov 3 (Reuters) - Barrick Gold Corp (ABX.TO), shares hit their lowest level since March 2020 on Thursday after the world's second-biggest gold miner reported a 30.1% drop in third-quarter profit due to weak production and higher costs. Toronto-listed shares were down 6.9% to 18.26 Canadian dollars, on track for their biggest one-day drop in two years. The cost increase was largely down to a 9% fall in gold production from 1.09 million ounces to 988,000 ounces, CEO Mark Bristow told Reuters in an interview. Barrick remains on track to achieve its 2022 production guidance, Bristow said in a statement. Gold prices declined 8% during the third quarter as global central banks raised interest rates to battle surging inflation.

☆ Gold slides as U.S. inflation data boosts rate-hike bets
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: +1 min

Gold prices fell on Friday, adding to the weekly decline, as a hotter-than-expected U.S. inflation reading cemented bets of another hefty Federal Reserve interest rate hike next month. Spot gold fell 0.3% to $1,660.10 per ounce, as of 0123 GMT. Although traditionally considered an inflation hedge, interest rate hikes to combat soaring prices have reduced bullion's appeal since it yields no interest. Barrick Gold Corp, the world's second-largest gold miner, said on Thursday it expected full-year gold production to be at the lower end of its earlier forecast range. Spot silver dipped 0.3% to $18.81 per ounce, platinum fell 0.5% to $891.67 and palladium was 0.3% lower at $2,101.77.

☆ Barrick's quarterly gold output falls sequentially
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

Oct 13 (Reuters) - Barrick Gold Corp (ABX.TO), on Thursday reported a fall in third-quarter gold output from the previous quarter and said it expects full-year gold production to be at the low end of the range it forecast earlier. The world's second-largest gold miner warned in August it could exceed its gold production cost guidance as miners battle with inflation and rising costs of labor, energy and mining supplies. Barrick earlier this year forecast 2022 gold production of 4.2 million to 4.6 million ounces. It said its third-quarter gold output fell due to weak production from its Veladero, Carlin and Turquoise Ridge mines. Barrick said the average realized price for the precious metal during the quarter was $1,729 per ounce, down from $1,871 per ounce in the second quarter.

☆ Noua președintă a Tanzaniei schimbă abordarea țării privind pandemia COVID
▼ + stars: | 2021-04-06 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Noul președinte al Tanzaniei, Samia Suluhu Hassan, a anunțat va înființa o comisie care să o consilieze în privința stopării pandemiei COVID-19, relatează Bloomberg. Guvernul a oprit publicarea datelor cu privire la infecțiile cu COVID-19 în luna mai a anului trecut, când numărul deceselor ajunsese la 21, și a declarat că nu va cumpăra niciun vaccin. Hassan a cerut, de asemenea, noului ministru al afacerilor externe Liberata Mulamula să „îmbunătățească relațiile Tanzaniei cu comunitatea internațională” și a cerut unei echipe de negociere cu compania Barrick Gold Corp. să soluționeze rapid o dispută privind impozitele. „Vreau ca discuțiile privind impozitele și alte probleme cu Barrick și cu alți parteneri din domeniul minier să fie rezolvate rapid. Să nu ajungem la un punct în care începem să ne încordăm mușchii împotriva investitorilor”, a spus ea.

Persons: Hassan, John Magufuli Organizations: Barrick Gold Locations: Tanzaniei, străinătate, guvernamentali

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