Total gold output at Nevada Gold Mines fell to 385,000 ounces in the July-September quarter, compared with 401,000 ounces in the preceding three months.
The world’s second-largest gold producer, however, expects a “materially stronger fourth quarter”. An operational expansion at Carlin mine, completed during a shutdown in the third quarter, would support higher throughput and recoveries in the last quarter of the year, the company said.
Barrick’s total preliminary output stood at 943,000 ounces of gold in the third quarter, compared with analysts’ estimate of 975,000 ounces, according to data compiled by LSEG.
The company expects all-in sustaining costs (AISC) for gold, an industry metric used to express total expenses, to rise at least 2% over the previous quarter’s $1,498 per ounce. Analysts’ estimate was $1,491 for the three months ended Sept. 30.
Barrick also reported preliminary copper output of 48,000 tonnes in…
