Barrick Gold says production trending toward upper end of guidance

TORONTO — Barrick Gold Corp. says its full-year production is trending towards the upper end of its guidance for 5.1 million to 5.6 million ounces.

The gold miner says preliminary third quarter sales amounted to 1.32 million ounces of gold and 64 million pounds of copper, while preliminary production figures for the quarter totalled 1.31 million ounces of gold and 111 million pounds of copper.

Barrick also said costs are likely to be at the lower end of its forecast.

In August, Barrick had forecast gold cash costs of $650 to $700 an ounce for 2019 and all-in sustaining costs of $870 to $920 an ounce.

The company’s copper cash costs were expected to be between $1.70 and $2.00 per pound and all-in sustaining costs of $2.40 to $2.90 per pound for the year.

Barrick is expected to release its full results for its third quarter on Nov. 6.

This report by The Canadian Press was first published Oct. 17, 2019.

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The Canadian Press