Barrick Gold Posted Robust Q3 2025 Production and Record Cash Flow
Barrick achieved record quarterly operating cash flow and free cash flow1 of $2.4 billion and $1.5 billion, up by 82% and 274%, respectively.
SEATTLE (Scrap Monster): Barrick Mining Corporation has released its third-quarter 2025 operating and financial results for the period ending September 30, 2025, highlighting robust performance across gold production, copper output, and cash flow metrics.
During the quarter, the company produced 829,000 ounces of gold and 55,000 tonnes of copper. Gold output increased 4% compared to Q2 2025, driven by strong performances at Cortez and Turquoise Ridge, which saw production gains of 15% and 13%, respectively. Pueblo Viejo also recorded record-high throughput for the quarter. While copper production fell 7% versus Q2, it remained on target with operational plans, with year-to-date copper output up 21% compared to the first nine months of 2024, according to the company.
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Barrick achieved record quarterly operating cash flow of $2.4 billion and free cash flow of $1.5 billion, marking increases of 82% and 274%, respectively, over the prior quarter. The prior quarter had reported $1.3 billion in operating cash flow and $0.4 billion in free cash flow. The surge was attributed to higher realized gold prices, increased gold sales volume, and lower total cash costs per ounce.
On the earnings front, Barrick reported net earnings of $1.3 billion ($0.76 per share) and adjusted net earnings of $982 million ($0.58 per share) for Q3 2025. This represents a significant increase from the $483 million net earnings ($0.28 per share) and $529 million adjusted net earnings ($0.30 per share) in the same quarter of 2024.
The results underscore Barrick’s strong operational execution and financial discipline, positioning the company to capitalize on favorable gold market conditions while maintaining sustainable growth in copper production.