TORONTO — Barrick Mining Corp. reported its first-quarter profit rose compared with a year ago, helped by higher prices for gold and copper.
The mining company, which keeps its books in U.S. dollars, says it earned US$474 million or 27 cents US per diluted share for the quarter, up from US$295 million or 17 cents US per diluted share a year earlier.
On an adjusted basis, Barrick says it earned 35 cents US per share in its latest quarter, up from an adjusted profit of 19 cents US per share in the same quarter last year.
Revenue for the quarter ended March 31 totalled US$3.13 billion, up from US$2.75 billion a year ago.
Gold production amounted to 758,000 ounces, down from 940,000 ounces in the same quarter last year, while copper production was 44,000 tonnes, up from 40,000 tonnes a year ago.
Barrick's realized gold price in its first quarter amounted to US$2,898 an ounce, up from US$2,075 last year, while its realized copper price was US$4.51 per pound, up from US$3.86 per pound.
This report by The Canadian Press was first published May 7, 2025.
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