Barrick Gold Reports $3.06 Billion Loss in Q4 on Copper Write downs

CNBC reported that Barrick Gold has reported a $3.06 billion fourth-quarter loss due to copper mine write downs.

As quoted in the market report:

The Canadian mining company also said it doesn’t have plans for any new mines, citing the current “challenging environment.” In addition it won’t go forward with an expansion project at its Lumwana copper mine, pointing to impairment charges and higher-than-expected costs.

To view the whole CNBC report, click here. 

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In 2014 Copper Fox Metals Inc. (TSXV:CUU) added approximately 1.8 billion pounds of copper as well as 140,000 ounces of gold contained within the Inferred resource category to its metal holdings. Connect with this company that’s on the move!Learn More
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