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Barrick third-quarter gold output rises nearly 5% sequentially

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Oct 14 (Reuters) – Miner Barrick Gold Corp (ABX.TO), on Thursday reported a nearly 5% rise in third-quarter gold manufacturing from the earlier three months, helped by improved efficiency at its Veladero mine in Argentina.

Total preliminary gold manufacturing rose to 1.09 million ounces within the three months ended Sept. 30, from 1.04 million ounces within the earlier quarter. Analysts on common had anticipated output of 1.144 million ounces, based on Refinitiv information.

Barrick stated manufacturing of the yellow metallic on the Veladero mine rose to 48,000 ounces within the third quarter from 31,000 ounces within the prior quarter.

The Canadian miner, which hopes to restart the Porgera gold mine in Papua New Guinea this yr after resolving a standoff with the federal government, stated it stays on observe to realize its 2021 output forecast.

The miner’s copper manufacturing rose 4.16% sequentially to 100 million kilos.

Reporting by Arunima Kumar in Bengaluru; Editing by Aditya Soni

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