News about Barrick Mining

Barrick Mining (NYSE: B) reports third-quarter results early next month. Its second-quarter net earnings rose 50% year on year to $1.22 billion, helped by higher gold and copper prices, but attributable free cash flow fell to $141 million from $212 million a year earlier. The company returned $1.50 billion to shareholders in the quarter, more than the cash it had left after spending, while project spending rose 49% and all-in sustaining costs for gold climbed 11%. Cash fell from the end of March but still exceeds debt, and its dividend policy aims to pay about half of attributable free cash flow. An agreement with Newmont to expand the Nevada Gold Mines complex brings Barrick a $1.95 billion cash payment and supports an IPO of its North American gold assets expected by year end, subject to market conditions.