From GlobeNewswire:

Barrick Gold Corporation has reported its preliminary full year and Q4 2023 production results. The company produced 4.05 million ounces of gold and 420 million pounds of copper in 2023, with higher production in Q4. The average market price for gold in Q4 was $1,971 per ounce, and for copper, it was $3.70 per pound.

Q4 gold production improved, and it was the highest quarter for the year, mainly from Cortez, Phoenix, and Pueblo Viejo. However, Q4 gold cost of sales per ounce is expected to be 6-8% higher than Q3, but copper all-in sustaining costs per pound are expected to lower by 2-4%, mainly due to lower waste stripping costs at Lumwana.

Barrick will release its full year and Q4 2023 results on February 14, 2024, and will hold a live presentation hosted by President and CEO Mark Bristow. Participants can ask questions during the presentation. The production results table includes the preliminary gold and copper production and sales from Barrick’s various operations for Q4 and full year 2023. The scientific and technical information in the news release has been reviewed and approved by a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Barrick uses non-GAAP financial measures such as total cash costs per ounce and all-in sustaining costs per ounce to monitor the performance of its gold mining operations. It believes these measures will provide additional information for analysts, investors, and other stakeholders to understand the costs associated with producing gold and assessing its operating performance.



Read more: Barrick Reports Higher Q4 Gold Production