Canada-headquartered Barrick Gold expects to meet its full-year guidance, despite the impact of the global Covid-19 pandemic and the resultant lockdowns that forced mining companies to scale back operations.
The company previously forecast that it will produce between 4.8-million and 5.2-million ounces of gold in 2020.
CEO Mark Bristow said in a news release on Thursday that Barrick had comprehensive programmes in action to counter the spread of Covid-19 at all its operations and that it had taken the necessary steps to manage the impact of the pandemic on its business.
The miner’s preliminary results indicate that first-quarter gold production could be about 13% lower than that of the fourth quarter, at 1.25-million ounces. Gold sales came to 1.22-million ounces.