Canadian miner Barrick Gold Corp ABX-T 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 per cent to 10 per cent from the previous quarter.
Copper’s AISC is, however, expected to be 2 per cent to 4 per cent 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.