World’s Biggest Gold Producer-Barrick Gold Corp Warns Drop of Production
NEW YORK : Barrick Gold Corp. – World’s number one producer of the precious yellow metal had warned that their in-the-ground gold reserve will shrink, resulting a significant decline of production in 2014. Barrick had warned the reserve cut of gold during the week which has startled miners and investors across the globe, generating anxiety regarding the asset write downs, especially in an already weakened sector.
The reserve cut of top gold miner has increased the uneasiness among shareholders and gold-lovers as decline of future source of gold production is foreseen to add to the present gold price and week gold market. This will be an added curse to the bullion price slide that fell 28 % in 2013. However, the reserve cut may benefit is one way as it will help in bringing back the sector to longer-term health.
Read more at: http://www.metal.com/newscontent/57126_world%E2%80%99s-biggest-gold-producer-barrick-gold-corp-warns-drop-of-production
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