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We're in the middle of results season, with major mining companies in the region releasing their reports for the first quarter of the year.
Barrick Gold saw first quarter profits climb to US$162mn, thanks to higher yellow metal prices. The company, however, slashed its production guidance for the year to 5.3-5.6Moz from 5.6-5.9Moz on account of the sale of half of its Veladero mine (pictured) in Argentina to Shandong Gold.
Another company that cut production guidance was BHP Billiton, which suffered at 44-day strike at its Escondida mine in Chile. The multinational cut its copper production guidance to a range of 1.33-1.36Mt from 1.62Mt previously.
In Mexico, Fresnillo saw silver output increase 10.7% thanks to a strong performance of its San Julián mine. Meanwhile, in Chile, Antofagasta saw copper output increase 9.4% thanks to the contribution of its newest mine, Antucoya.