(Boursier.com) — Barrick Gold, the Canadian mining giant listed on Wall Street, active in particular in gold and copper production, announced for the second quarter a 19% increase in its profit, thus exceeding market expectations. Inflation weighed on production costs, but the group benefited in particular from the increase in copper production volumes. The group maintains its annual expenditure reduction forecasts and says it is on track to achieve its copper and gold production targets. Quarterly net income was $488 million and 27 cents per share, compared to $411 million a year earlier. Barrick produced 120 million pounds of copper in the second quarter, up 25% from the first quarter, while gold production rose slightly to 1.043 million ounces from 1.041 million.
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