Barrick Mining posts higher Q2 production and cash flow

Barrick Mining Corporation (NYSE: B)(TSX: ABX) reported increased gold and copper production for the second quarter, with net earnings per share rising to $0.47. The mining company said gold production increased 5% quarter-over-quarter while copper output jumped 34% compared to the first quarter.

Operating cash flow for the first half of 2025 reached $2.5 billion, representing a 32% increase from the prior-year period. Free cash flow totaled $770 million for the six-month period, up 107% year-over-year, supported by higher commodity prices.

Nevada Gold Mines led the company's gold performance with an 11% production increase quarter-over-quarter. Pueblo Viejo delivered a 28% production increase, driven by higher throughput and expansion progress. The Lumwana mine contributed to the strong copper performance.

The board approved a $0.15 per share dividend, which includes a $0.05 performance dividend. During the quarter, Barrick repurchased $268 million of its shares, bringing total buybacks for the first half to $411 million. Total capital returned to shareholders for the first half amounted to $753 million.

The company sold its Donlin interest for $1 billion during the quarter. Barrick said its Reko Diq development project remains on schedule with onsite construction advancing. The Fourmile drill program has logged 34 kilometers of drilling this year, with results supporting potential to double existing resources by year-end.

Safety performance improved with lost time injuries down 50% year-to-date and total injuries declining 37%. The company decommissioned two additional legacy tailings storage facilities during the quarter and reached a community resettlement agreement at Pueblo Viejo with 402 new houses completed.

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