“Barrick Gold Corp., the world’s largest producer of the metal, posted an unexpected fourth- quarter loss after taking a $3 billion writedown on a Zambian copper mine it bought in 2011.
The loss was $3.06 billion, compared with net income of $959 million a year earlier, Toronto-based Barrick said today in a statement. Earnings excluding the writedown and other one-time items were $1.11 a share, beating the $1.05 average of 22 estimates compiled by Bloomberg. Sales rose to $4.19 billion from $3.76 billion….”
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