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.

BARRICK Mining posted much improved net earnings for the second quarter – its best in over a decade – owing to reduced all in sustaining costs and a 15% increase in the gold price. Net earnings came in at 47 US cents per share,