Also today in North America, Barrick Gold Corporation revealed a 118% increase in adjusted net income in Q4, to a record US$604 million from U$277 million in the same period last year. The word's largest gold miner benefitted substantially from its widely publicized decision to remove its hedging activities as gold prices have exceeded historic record highs. Fourth quarter production was 1.90m ounces (Moz) at a total cash cost of US$474 per ounce. Over the course of the full-year, Barrick produced 7.42m ounces at a total cash cost of US$466 per ounce, within original guidance, and continued Barrick's strong track record of meeting its operating targets. "In addition to meeting our operating targets, we achieved a number of significant milestones which have enhanced the value proposition of Barrick", Barrick President and CEO Aaron Regent commented.