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Barrick third-quarter gold output rises nearly 5% sequentially By Reuters

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© Reuters. FILEPHOTO: A souvenir luggage tag is displayed at Barrick Gold Corp’s annual Prospectors and Developers Association of Canada conference (PDAC) in Toronto, Ontario Canada. March 1, 2020. REUTERS/Chris Helgren

(Reuters) – Miner Barrick Gold Corp (NYSE:) reported Thursday a nearly 5% increase in its third quarter gold production compared to the three previous months. This was due to an improvement at Veladero, Argentina’s mine.

The total production of preliminary gold rose to 1.09 Million Ounces for the period ended September 30, from 1.04 Million Ounces in quarter précédent. Based on Refinitiv data, analysts expected an average of 1.144 million tones.

Barrick stated that the Veladero yellow metal mine produced 48,000 ounces of gold in the third quarter, up from 31,000 ounces the previous quarter.

Canadian mining company, Porgera Gold Mine, hopes to restart in Papua New Guinea’s Porgera this year, after resolving a dispute with the government. It said that it is still on track for its expected 2021 production.

Miners’ production increased by 4.16% to 100 millions pounds.

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