Barrick Mining is on track to replace more than 80% of the gold it mines this year. Credit: Tigarto/Shutterstock.com. · Mining Technology · Tigarto/Shutterstock.com. Barrick Mining has reported a robust performance in the second quarter (Q2),

Barrick Mining Corp. took a US$1.04-billion charge in its second quarter related to its loss of control of a gold mine in Mali, but still reported a rise in profit thanks to higher gold prices and an asset sale.

The Canadian miner will add a performance payout after improved production for the period kept it on track to hit its output targets for the full year.

Barrick Mining beat profit expectations for the second quarter and raised its dividend by 50% on Monday, as record-high gold prices helped offset lower production and a $1.04 billion charge from losing control of its Loulo-Gounkoto mine in Mali.