Strong AUD bites Barrick

BARRICK Gold admitted the rising Australia dollar has hit its bottom line on its Asia-Pacific operations, but the company has pursued a dollar hedging program to ameliorate the costs while it aggressively reduces its gold hedging to take advantage of the high spot gold price.

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Speaking at the 2007 Diggers and Dealers Mining Forum in Kalgoorlie today, Barrick's head of Asia-Pacific operations Joc O'Rourke forecast a stronger year ahead for the company after it reduced its