The world’s second-largest gold miner said its average realized gold prices rose to $2,075 per ounce from $1,902 per ounce a year earlier.
All-in sustaining costs per ounce of gold, an industry metric that reflects total expenses, was $1,474 in the quarter, up from $1,370 per ounce a year earlier.
Rival Newmont also topped profit estimates last week, as the world’s largest gold miner benefited from robust production, prices and lower operating costs.
US-listed shares of Barrick were up 2.5% in premarket trading.
The Toronto, Canada-based company, in a separate release, said as part of its agreement with Geophysx, Barrick will have the right to work with the private mineral exploration company to earn up to an 80% joint-venture interest in designated properties located in Jamaica.
The partnership would initially provide Barrick with access to about 4,000 square kilometers of consolidated land positions throughout the country,…
