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June 22, 2024
PI Global Investments

Barrick Gold reports higher fourth-quarter copper, gold output

(Adds details on costs in paragraphs 3 and 4)

Jan 16 (Reuters) – Canadian miner Barrick Gold Corp
said on Tuesday its gold and copper production
rose sequentially for the fourth quarter.

The company’s total preliminary output was 1.05 million
ounces of gold and 113 million pounds of copper in the three
months ended Dec. 31, up from 1.04 million ounces of gold and
112 million pounds of copper in the previous quarter.

Barrick said it expects all-in sustaining costs (AISC) per
ounce of gold, an industry metric that reflects total expenses,
to rise about 8% to 10% from the previous quarter.

Copper’s AISC is, however, expected to be 2% to 4%
lower, largely on the back of lower capitalized waste stripping
at Barrick’s Lumwana mine in Zambia.

Barrick is scheduled to release its fourth-quarter
results on Feb. 14, 2024.

(Reporting by Seher Dareen in Bengaluru; Editing by Shinjini
((Seher.Dareen@thomsonreuters.com; If in India call +91 74832
70128, if within U.S. call +1 646 223 8780;))


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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