Barrick’s third-quarter gold output to fall 11% y/y

Canada-based gold miner Barrick Gold on Thursday reported preliminary third-quarter gold production of 1.16-million ounces of gold and 103-million pounds of copper – a respective 11% and 8% decrease on its output a year earlier. During the third-quarter, there was no production at the Porgera mine, in Papua New Guinea, after the operation was placed on care and maintenance in late April, amid a dispute over its mining lease. Barrick and Papua New Guinea have since agreed that the gold major's joint venture with China's Zijin Mining will remain the operator of Porgera.