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.
| Updated December 2015
Get Our Expert Guide to Copper Investing FREE!Download this FREE Special Report, From LME Copper to Copper ETFs: Understanding Today’s Copper Price for Investing in Copper.