Barrick Gold expects output to slide as reserves, production fall

Vancouver

CANADA'S Barrick Gold Corp, the world's biggest gold producer, forecast an output drop over the next four years on Wednesday, with mining costs flat to higher.

Barrick, which reported quarterly earnings that matched market expectations, said its reserves of unmined gold dropped by 25 per cent last year to 64.5 million ounces, as it sold off mine stakes and changed its plan for a South American asset.