Barrick’s gold output was slightly lower than a year earlier but increased from the previous quarter, keeping the company on track to meet its full-year production target. Copper production fell both quarter over quarter and year over year, though Barrick said it remained on course to meet its full-year guidance.
In section Market Quotes
Materials Shares Rise as Gold and Copper Prices Lift Barrick
Higher precious-metal prices helped lift shares of metals, grain and other raw-material producers. Barrick Mining reported a slight increase in third-quarter net earnings, as stronger gold and copper prices and productivity improvements helped offset rising costs.
Chief Executive Mark Hill said the quarter marked “a full year of consistent delivery.” He said Barrick had set out 12 months earlier to “earn back trust and restore Barrick to its history of discipline and excellence.” The company said productivity gains mitigated cost pressures from fuel, consumables and appreciation in local currencies.
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