Barrick Gold, preparing for COVID-19, to keep stocks above normal level

London — Canadian miner Barrick Gold said Friday it was prepared for COVID-19 and planned to increase its inventory of key commodities to above their normal levels, while placed and forecast orders were unchanged.

The world's second-largest gold miner said supplies to its mines have not been affected by coronavirus, and was closely monitoring the situation, engaging with health authorities and tracking updates from the international medical community.

"Thus far, it has not deemed it necessary to introduce any travel restrictions," the company said.

"Access to each site across the group is strictly controlled and visitors, employees and contractors are routinely screened before and on arrival," it said. "Emergency medical procedures and facilities are in place across the organization."

The company said the experience gained in dealing with Ebola outbreaks around its African operations, has resulted in increased site-specific emergency response plans and regional crisis management plans to deal with any form of COVID-19 in or near its mines globally.

Barrick Gold's full-year 2019 gold production rose 21% to 5.465 million oz, near the top end guidance of 5.1 million-5.6 million oz, with total cash costs up 14% at $671/oz, and all-in sustaining costs rising 11% to $894/oz, it said.