Costs weigh on African Barrick Gold numbers
African Barrick Gold (ABGL.L: Quote) said its net profit declined in the first quarter as lower production and higher costs offset rising gold prices.
Net profit fell 5 percent to $50.4 million as the miner’s production dipped 2 percent to 173,907 ounces. Cash costs jumped 28 percent to $658 an ounce.
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