TORONTO, ONTARIO--(Marketwired - Oct 12, 2017) -
All amounts expressed in U.S. dollars
Barrick Gold Corporation (ABX.TO)(ABX.TO) ("Barrick" or the "Company") today announced preliminary third quarter production of 1.24 million ounces of gold, and 115 million pounds of copper, and preliminary third quarter sales of 1.23 million ounces of gold, and 107 million pounds of copper. The average market price for gold in the third quarter was $1,278 per ounce, while the average market price for copper was $2.88 per pound.
"Our operations continue to deliver solid results and remain on track for the year, with third quarter gold and copper production in line with expectations," said Barrick President Kelvin Dushnisky. "As stated previously, we expect higher production and lower costs in the fourth quarter."
Barrick will provide additional discussion and analysis regarding third quarter production and sales when the Company reports quarterly results on October 25, 2017. The following table includes preliminary gold and copper production and sales results from our operations:
| Production | Sales | ||||||||
| Three months ended September 30, | Nine months ended September 30, | Three months ended September 30, | Nine months ended September 30, | ||||||
| 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||
| Gold (equity ounces (000s)) | |||||||||
| Barrick Nevada(1) | 520 | 547 | 1,782 | 1,554 | 556 | 560 | 1,818 | 1,580 | |
| Pueblo Viejo(2) | 154 | 189 | 468 | 511 | 142 | 190 | 455 | 502 | |
| Lagunas Norte | 96 | 101 | 274 | 325 | 93 | 109 | 283 | 327 | |
| Veladero(3) | 99 | 116 | 322 | 367 | 90 | 95 | 344 | 338 | |
| Turquoise Ridge | 68 | 72 | 147 | 201 | 66 | 80 | 141 | 188 | |
| Acacia(4) | 122 | 131 | 396 | 394 | 85 | 131 | 285 | 388 | |
| Other Mines - Gold(5) | 184 | 225 | 595 | 649 | 195 | 221 | 604 | 661 | |
| Total | 1,243 | 1,381 | 3,984 | 4,001 | 1,227 | 1,386 | 3,930 | 3,984 | |
| Copper (equity pounds (millions)) | 115 | 100 | 314 | 314 | 107 | 102 | 298 | 298 | |
ENDNOTES
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Includes our 60% equity share of Arturo.
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Reflects our 60% equity share of Pueblo Viejo.
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Reflects our 50% equity share of Veladero from July 1, 2017 onwards.
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Reflects our 63.9% equity share of Acacia.
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Includes Golden Sunlight, Hemlo, Porgera on a 47.5% basis, Kalgoorlie on a 50% basis, and Bald Mountain and Round Mountain up to January 11, 2016 - the effective date of sale of the assets.
TECHNICAL INFORMATION
The scientific and technical information contained in this press release has been reviewed and approved by Steven Haggarty, P. Eng., Senior Director, Metallurgy of Barrick who is a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
THIRD QUARTER 2017 RESULTS
Barrick will report detailed third quarter results on Wednesday, October 25, after markets close, followed by a conference call and webcast on October 26 at 8:00 am ET.