Barrick Gold Reported Steady Q3 Gold Output; Eyes Strong Finish to the Year

SEATTLE (Scrap Monster): Barrick Gold Corporation reported preliminary Q3 production of 948,000 ounces of gold. Preliminary gold production for Q3 was consistent with Q2. The consistent output was mostly due to improved grades from North Mara and a 23% sequential rise in production from Pueblo Viejo. The company sold 967,000 ounces of gold in the third quarter.

According to the corporation, sales of 42,000 tonnes and preliminary Q3 copper production of 48,000 tonnes were recorded. During the quarter, the average market price of copper was $4.18 per pound. According to the business news release, improved grades and recoveries at Lumwana contributed to the preliminary Q3 copper production being higher than Q2.

It is anticipated that in the next quarter, Carlin's Gold Quarry roaster expansion would improve throughput and recoveries. The business plans to deliver 2024 production in accordance with the previously disclosed full year gold and copper output estimate and anticipates a significantly better Q4.

Barrick will release its Q3 2024 results before market open on November 7, 2024. A live presentation of the results will be hosted by President and CEO Mark Bristow on that day at 11:00 EST/16:00 UTC.

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