Barrick Aims to Mine More Gold After Output Hits 22-Year Low
- Company expects to produce up to 4.6 million ounces in 2023
- Barrick cuts dividend 33%, announces $1 billion buyback plan
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Barrick Gold Corp. is looking to reverse a slump in its bullion output this year after posting its lowest production in more than two decades.
The company expects to produce 4.2 million to 4.6 million ounces this year, Barrick said while reporting fourth-quarter earnings that beat analysts’ expectations. That’s on par with last year’s guidance, and would be enough to snap the three-year decline that saw annual output sink to its lowest level since 2000 last year.