Barrick Set to Achieve 2021 Production Targets

Alleen voor leden beschikbaar, wordt daarom gratis lid!

Overig advies 14/10/2021 18:02
All amounts expressed in US dollars

Toronto — Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) today reported preliminary Q3 sales of 1.07 million ounces of gold and 101 million pounds of copper, as well as preliminary Q3 production of 1.09 million ounces of gold and 100 million pounds of copper. It remains on track to achieve 2021 guidance1, with both the Africa & Middle East and Latin America & Asia Pacific regions continuing to trend to the higher end of their regional gold guidance and North America at the lower end.

As previously guided, Barrick’s Q4 gold production is expected to be the strongest of 2021 following the repair of the mill at Carlin’s Goldstrike roaster late in Q3. Consequently, for Nevada Gold Mines (NGM) both Carlin and Cortez are expected to be at the low end of their annual guidance ranges, whereas Phoenix and Long Canyon are expected to be at the top end of their guidance ranges. Furthermore, production at Turquoise Ridge is expected to be below its annual guidance range, although full year production is still expected to be higher than the prior year. Production at Hemlo is also expected to be below its annual guidance range following a slower ramp-up of underground development due to Covid-19 movement restrictions.

The average market price for gold in Q3 was $1,790 per ounce, while the average market price for copper in Q3 was $4.25 per pound. The Company’s Q3 realized copper price2 is expected to be 5 to 7% below the average Q3 market price for copper, primarily as a result of provisional pricing adjustments3 that reflect the downward trend in copper prices during the quarter.

Preliminary Q3 gold production was higher than Q2, with improved performance at NGM following planned maintenance shutdowns in the previous quarter, the continuing ramp-up of operations at Bulyanhulu and improved performance at Veladero following the commissioning of the Phase 6 leach pad expansion in Q2. Q3 gold cost of sales per ounce4 and total cash costs per ounce5 are both expected to be flat to 2% higher and all-in sustaining costs per ounce5 are expected to be 4 to 6% lower than Q2.

Preliminary Q3 copper production was higher than Q2, and Q4 is expected to be the strongest quarter of the year, mainly driven by higher grades from Lumwana. Q3 copper cost of sales per pound4 is expected to be 5 to 7% higher, C1 cash costs per pound5 are expected to be flat to 2% higher and copper all-in sustaining costs per pound5 are expected to be 4 to 6% lower than Q2.

Barrick will provide additional discussion and analysis regarding its third quarter production and sales when the Company reports its quarterly results before North American markets open on November 4, 2021.

The following table includes preliminary gold and copper production and sales results from Barrick's operations:

Three months ended
September 30, 2021 Nine months ended
September 30, 2021
Production Sales Production Sales
Gold (equity ounces (000))
Carlin6 (61.5%) 209 202 628 625
Cortez (61.5%) 130 126 340 338
Turquoise Ridge (61.5%) 82 82 252 253
Long Canyon (61.5%) 43 42 128 127
Phoenix (61.5%) 31 33 84 85
Nevada Gold Mines (61.5%) 495 485 1,432 1,428
Loulo-Gounkoto (80%) 137 134 434 430
Pueblo Viejo (60%) 127 125 381 384
Kibali (45%) 95 93 272 272
North Mara (84%) 66 65 191 187
Bulyanhulu (84%) 53 49 121 113
Veladero (50%) 48 44 111 123
Tongon (89.7%) 41 41 137 138
Hemlo 26 29 115 118
Buzwagi (84%) 4 6 40 41
Total Gold 1,092 1,071 3,234 3,234
Copper (equity pounds (millions))
Lumwana 57 64 164 191
Zaldívar (50%) 24 25 70 72
Jabal Sayid (50%) 19 12 55 47
Total Copper 100 101 289 310
Third Quarter 2021 Results
Barrick will release its Q3 2021 results before market open on November 4, 2021. President and CEO Mark Bristow will host a live presentation on the results that day in London, UK, at 11:00 EDT / 15:00 GMT, with an interactive webinar linked to a conference call. Participants will be able to ask questions.

Go to the webinar
US and Canada (toll-free) 1 800 319 4610
UK (toll-free) 0808 101 2791
International (toll) +1 416 915 3239

The Q3 2021 presentation materials will be available on Barrick’s website at

The webinar will remain on the website for later viewing, and the conference call will be available for replay by telephone at 1 855 669 9658 (US and Canada toll-free) and +1 604 674 8052 (international toll), access code 7781.

Claudia Pitre
Manager, Investor Relations and Corporate Access

see &

Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord

Copyrights © 2000 by all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.