Barrick Gold Corp. is looking to increase its gold production this year as the company also moves to lower its dividend, according to its chief executive.
“Our guidance is the same as last year, between 4.2 and 4.6 million ounces of gold and midpoint 4.4 [million ounces of gold], and around 440 million pounds of copper. It's exactly the same guidance as we gave last year,” Mark Bristow, the president and chief executive officer of Barrick Gold, said in an interview with BNN Bloomberg Wednesday.
“Our guidance is the same as last year, between 4.2 and 4.6 million ounces of gold and midpoint 4.4 [million ounces of gold], and around 440 million pounds of copper. It's exactly the same guidance as we gave last year,” Mark Bristow, the president and chief executive officer of Barrick Gold, said in an interview with BNN Bloomberg Wednesday.a loss of US$735 million in its fourth-quarter results Wednesday, down from a US$726 million profit a year earlier.
“So [the] dividend is based on the 10 cent base dividend and then really the dividend is controlled by the cash on the balance sheet, the net cash,” Bristow said.
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