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Barrick Gold Q3 Gold Production Sequentially Rises

Barrick Gold Corp. (GOLD,ABX.TO) reported preliminary third quarter sales of 1.25 million ounces of gold and 116 million pounds of copper, as well as preliminary third quarter production of 1.16 million ounces of gold and 103 million pounds of copper.

Preliminary third quarter gold production was slightly higher than the second quarter of 2020, notwithstanding the fact that there was no third quarter production at Porgera in Papua New Guinea which was placed on care and maintenance on April 25, 2020.

Excluding Porgera, third quarter gold production was 3% higher than the second quarter mainly due to stronger performances from Carlin and Pueblo Viejo following the completion of scheduled plant maintenance in the prior quarter.

Preliminary third quarter gold sales were slightly higher than the previous quarter, and exceeded third quarter production following the export of the remaining stockpiled concentrate in Tanzania.

Preliminary third quarter copper production and sales were both lower than the previous quarter, primarily as a result of lower throughput at Lumwana following plant maintenance completed in the quarter.

The company said it remains on track to achieve full-year production guidance.

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