Research (J&T BANKA)
Commodities  |  February 14, 2013 09:38:37

African Barrick is struggling with unstable African environment

Gold miner African Barrick, which has Barrick Gold share about 74% yesterday after the results indicated that this year plans to make the 540-600 thousand. ounces of gold. The company extracted a while last year 626 thousand. ounces this year and the market expected production of around 600 thousand. The reason of the continuing problems (low production, high cost) is the unstable environment of African operations (mainly Tanzania) where the company is struggling with power outages, illegal mining and other unfavorable factors. In 2014 and 2015, the production should grow by extending downwards. African Barrick Barrick to revenues account for less than 7%.

Barrick announced yesterday that it leaves a quarterly dividend for 4Q12 at $ 0.2 per share. The record date will be 2.28 Gross dividend yield on an annual basis now stands at 2.5%.

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African Barrick se potýká s nestabilním africkým prostředím

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