Barrick Gold Foresees Reduced Gold Output in 2022

SEATTLE (Scrap Monster): Barrick Gold Corporation, in its latest market update, noted that it expects the copper production for the full year 2022 to be at the midpoint of the earlier announced guidance. Meantime, gold production for the year may likely hover around the lower end of the production guidance.

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Barrick Gold Recorded Stronger Gold Output in Q2 This Year

The company reported preliminary Q3 gold production of 0.99 million ounces of gold, comparatively lower than the sequential quarter, mainly due to lower production from Veladero, Carlin and Turquoise Ridge offsetting the robust output from Pueblo Viejo. Also, the Q3 output from Long Canyon was much lower when compared with Q2. Barrick Gold reported preliminary gold sales of 1 million ounces during the third quarter.

It reported preliminary copper production and sales of 123 million pounds and 120 million pounds respectively. The strong performance from Lumwana resulted in higher Q3 output, compared with Q2. The production and sales for the cumulative nine-month period of the year totalled 344 million pounds and 346 million pounds respectively.

The company is due to release its third quarter 2022 results before market opening on 3rd November, 2022. A live presentation of the results will be held that day in London, UK, at 11:00 EDT / 15:00 GMT, which will be hosted by Mark Bristow, CEO.