(February 4 – 15:00 ET) – Barrick Gold Corp. reported a 10% increase in earnings and a 30% increase in cash flow for 1999. The firm attributes the increase to record production and low costs.
Net income increased to US$331 million or 83¢ per share for 1999, compared with $301 million or 79¢ per share in 1998. Revenue was $1.4 billion in 1999, and $1.3 billion in 1998. The company reported its lowest ever cash costs of $124 an ounce.
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