SMM7, 19 March: as the strong development of projects in Mali and Argentina can offset the decline in production in other regions, Barrick Gold (Barrick Gold Corp.) expects gold production to meet the production target limit of 2019, and the good performance in the second quarter of this year is also a strong support for achieving the annual production target.
As of June 30, the company produced 1.35 million ounces of gold and 97 million pounds of copper in the second quarter of this year.
As of May, the company expects gold production of 5.1 million ounces to 5.6 million ounces and copper production of 375 million pounds to 430 million pounds in 2019.
But the preliminary figure for copper production in the second quarter of this year was slightly lower than in the first quarter of this year, mainly due to a decline in Lumwana production in Zambia. The Lumwana copper mine produced 610000 pounds of copper in the first quarter of this year. "Barrick Gold Q1 results
Zambia introduced a new mining tax in January, requiring local imports of copper concentrate to impose a tariff of 5 per cent, a move aimed at ensuring the country's interests in natural resources. However, it has also directly increased the costs of copper mining enterprises, more than half of the copper mines are losing money, and thousands of miners are in danger of losing their jobs.
Copper production has also been directly affected.
Zambia's copper production fell 4 per cent to 393419 tons in the first half of this year, compared with 410919 tons in the same period last year, according to data released by Zambia's mining ministry on Thursday.
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