no, not more into copper than gold, they diversified last year which irked the "purists" who sank the pps in protest, back then. Copper prices were high, and is a by-product of gold mining. "As of December 31, 2011, Barrick’s proven and probable mineral reserves were 139.9 million ounces of gold, 1.07 billion ounces of silver contained within gold reserves and 12.7 billion pounds of copper1, respectively. In 2011, Barrick produced 7.7 million ounces of gold at total cash costs of $460 per ounce or net cash costs of $339 per ounce2 and produced 451 million pounds of copper at total cash costs of $1.75 per pound2.
For 2012, Barrick expects gold production of 7.3-7.8 million ounces at total and net cash costs of $520-$560 per ounce and $400-$450 per ounce, respectively. The company also expects 2012 copper production of 550-600 million pounds at C1 cash costs of $1.90-$2.20 per pound3."
Barrick is targeting growth in gold production to approximately 9 million ounces by 20164, driven largely by the Pueblo Viejo and Pascua-Lama projects. Pueblo Viejo and Pascua-Lama are on track to enter production in mid-2012 and mid-2013, respectively. These two mines are expected to contribute about 1.5 million ounces5 of annual production, provide combined annual average EBITDA of about $2.5 billion6 and have a positive impact on Barrick's cost structure.
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