Barrick Mining excelled in Q2, showing a boost in gold and copper production, leading to a rise in free cash flow and net earnings per share, hitting $0.47. Operating cash flow for H1 reached $2.5bn, a 32% increase, with free cash flow soaring by 107% to $770m. Gold production increased by 5% in Q2, while copper output surged by 34% from Q1. Nevada Gold Mines saw an 11% rise in gold output, with Pueblo Viejo reporting a 28% surge. The company’s gold and copper production aligned with its guidance, with copper on track to reach the higher end of the annual forecast. Barrick also announced a $0.15 per share dividend and continued its share repurchase program, buying back $268m of its shares during Q2. $753m in total capital was returned to shareholders in H1. Barrick president and CEO Mark Bristow highlighted the company’s growth, lower costs, and exciting project pipeline, emphasizing progress at Goldrush, Pueblo Viejo, Lumwana, and Reko Diq. Barrick is actively engaged in reserve replacement and exploration efforts, with promising results from brownfield programs at Kibali. The company aims to replace over 80% of the gold it mines this year. Construction activities at Reko Diq are progressing as planned, while drilling efforts at the Fourmile project suggest a potential doubling of current resource estimates by year-end. Barrick is reportedly in the final stages of discussions to divest its Canadian gold mine, Hemlo, to Discovery Silver.

Read more at Yahoo Finance: Barrick Mining reports increased production and higher earnings in Q2