Barrick reports its annual gold production

News
Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) has released preliminary production results for the fourth quarter and full year of 2023. The preliminary gold production for the full year reached 4.05 million ounces, consistent with the guidance outlined in the third-quarter statement. The preliminary copper production of 420 million pounds for 2023 fell within the guidance range of 420 to 470 million pounds.

By Panorama Minero

Preliminary results for the fourth quarter show sales of 1.04 million ounces of gold and 117 million pounds of copper, along with preliminary production in the same period of 1.05 million ounces of gold and 113 million pounds of copper. The average market price for gold in the fourth quarter was $1,971 per ounce, and for copper, it was $3.70 per pound.

Preliminary gold production in the fourth quarter exhibited an improvement compared to the third quarter and was the strongest quarter of the year, driven by strong performances at Cortez, Phoenix, and Pueblo Viejo. This was partially offset by lower production at Loulo-Gounkoto, as expected, which still concluded the year at the upper end of the guidance range. Compared to the third quarter, the cost of sales per ounce of gold in the fourth quarter is expected to be 6% to 8% higher, total cash costs per ounce are expected to be 7% to 9% higher, and total sustaining costs per ounce are expected to be 8% to 10% higher than the previous quarter.

Cuadro Barrick.png

Preliminary copper production in the fourth quarter was in line with the third quarter, with consistent production across its various operations. Compared to the third quarter, the cost of sales per pound of copper in the fourth quarter is expected to be 8% to 10% higher, cash costs per pound are expected to be 5% to 7% higher, and total sustaining costs per pound are expected to be 2% to 4% lower.

Magazine

Edición 526 - Diciembre 2023
Edición 525 - Noviembre 2023
Edición 524 - Octubre 2023
Edición 523 - Septiembre 2023
Edición 522 - Agosto 2023
Edicion 521 - Julio 2023
Edición 520 - Junio 2023
Edicion 519 - Mayo 2023
Edición 518 - Abril 2023
Edición 517 - Marzo 2023
Edición 516 - Febrero 2023
Edición 515 - Diciembre 2022

Events

    Expo San Juan
    Lithium in South America
    Gold, Silver & Copper

Lindero gold mine: Fortuna reports updated Mineral Reserves and Mineral Resources

Lindero gold mine: Fortuna reports updated Mineral Reserves and Mineral Resources

Fortuna Silver Mines has provided its latest Mineral Reserve and Mineral Resource estimates as of December 31, 2023 for its five operating mines in West Africa and the Americas, as well as the Arizaro project, part of the Lindero mine located in Salta and operated through its subsidiary Mansfield Minera SA, in Argentina.
San Juan Province: McEwen announced significant progress at Los Azules Copper Project

San Juan Province: McEwen announced significant progress at Los Azules Copper Project

Canadian company McEwen Mining, developing the Los Azules project through its subsidiary McEwen Copper, in the province of San Juan, reported that twenty drilling rigs are on-site, with over 36,000 meters of drilling completed to date as part of the season. The goal is to advance in all areas contributing to the upcoming Feasibility Study (FS), expected to be published in the first quarter of 2025.
Barrick highlights Veladero's revival: "Emerging stronger than ever"

Barrick highlights Veladero's revival: "Emerging stronger than ever"

During the announcement of its year-end results, the Canadian company, operator of the iconic Veladero gold deposit located in the Iglesia department of San Juan province, stated that "the operation comfortably exceeded its production expectations and managed to reduce costs, marking a significant shift in its trajectory."

Infrastructure: Salta presents progress in the electrification of the Puna

Infrastructure: Salta presents progress in the electrification of the Puna

The provincial government of Salta presented the comprehensive electrification project of the Puna to representatives from companies in the sector at a meeting held at the local Mining House. The initiative aims to ensure electrical supply to mining projects and communities in the region, with a focus on efficiency and electrical safety.
Flavia Royon and Mining Governors presented industry potential in Berlin

Flavia Royon and Mining Governors presented industry potential in Berlin

The Ministry of Mining of the Nation and the governors of Salta, Jujuy, San Juan, and Catamarca presented the Argentine mining asset as a de-risking factor at the First Argentine-German Meeting on Critical Minerals in Berlin. Sovereign guarantees, financial instruments, and specific funds for the development of new investments in Argentine mining were the focus of the business day.

For the first time, mining in Argentina exceeds the 40,000-worker mark

For the first time, mining in Argentina exceeds the 40,000-worker mark

In its latest report, presented in January following the change of government, the National Mining Secretariat provided updates on employment levels in the industry. Based on the analysis of September, the latest reporting period, and presented during the current month, the national mining portfolio highlighted that mining workers in Argentina reached the threshold of 40,243 jobs, with a growth of 7.6% compared to September 2022.
More than 1,100 companies participate in Argentine mining

More than 1,100 companies participate in Argentine mining

According to the latest official report, the number of companies comprising the mining productive framework reached 1,102 by the analysis period, last September. This figure represents a 3.3% increase compared to the same period of the previous year and reflects a greater momentum in mining activity in the country.