Barrick rises on soaring prices

Barrick Gold reported a stronger-than-expected quarterly profit yesterday as increased sales volumes and record-high gold and copper prices offset higher production costs. Excluding one-time items, earnings rose to $947m, or 95 cents a share, from $604m, or 61 cents. Quarterly revenue for the Canadian miner also came in much higher than expected, rising 25 per cent to $2.95bn, largely driven by a 22 per cent increase in the average realised gold price.