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Barrick swings to third-quarter net loss on Zaldivar charge

Reuters - UK Focus

Oct (HKSE: 3366-OL.HK - news) 28 (Reuters) - Barrick Gold Corp swung to a third-quarter net loss on Wednesday as it took $455 million in impairment charges related primarily to the reclassification of its Zaldivar copper mine in Chile as "held-for-sale."

Barrick, the world's biggest gold producer by ounces, posted a net loss of $264 million, or 23 cents a share, in the quarter to end-September compared with earnings of $125 million, or 11 cents a share, in the same period a year ago.

Barrick agreed in July to sell 50 percent of its Zaldivar mine to copper miner Antofagasta Plc (Other OTC: ANFGF - news) for $1 billion in cash.

(Reporting by Nicole Mordant in Vancouver; Editing by Diane Craft)