African Barrick's profits drop as cash costs soar

African Barrick Gold (ABG) saw shares sink on Monday after revealing that first-half gold production, revenue and profits were all down on the first half.

African Barrick Gold (ABG) saw shares sink on Monday after revealing that first-half gold production, revenue and profits were all down on the first half.

Attributable gold output sank 14% in the six months to June 30th from 345,857 ounces to 297,742 ounces. This was due to expected lower grade material mined at Buzwagi, waste stripping at North Mara and batch processing at Tulawaka.

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