Pueblo Viejo helps lift Barrick quarterly output
Bullion major Barrick Gold produced more gold in the fourth quarter at a lower all-in sustaining cost (AISC) as its Pueblo Viejo mine, in the Dominican Republic, delivered a strong performance.
Fourth-quarter output was also helped by the ramp-up of operations at Bulyanhulu, in Tanzania, and ongoing improvement at Turquoise Ridge, in Nevada.
The Toronto- and New York-listed miner said on Thursday that its preliminary gold production for the December quarter rose to 1.21-million ounces of gold, from 1.16-million ounces in the preceding quarter, at an AISC that were expected to be 3% to 5% lower.
Pueblo Viejo produced 159 000 oz in the three months.
Copper production increased quarter-on-quarter to 119-million pounds, while sales were lower, owing to the timing of shipments at Lumwana, in Zambia. Copper AISC were expected to be 4% to 6% higher.
Full-year production was in line with its 2020 guidance of 4.6-million to 5-million ounces, with 4.8-million ounces being produced.
Copper production of 457-million pounds also fell within the guidance range of 440-million to 500-million pounds.
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