trending Market Intelligence /marketintelligence/en/news-insights/trending/EeQ1xjgvuf8rUlkCNKn-Eg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Barrick Gold's Q3'19 gold output, sales rise YOY

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020


Barrick Gold's Q3'19 gold output, sales rise YOY

Barrick Gold Corp.'s third-quarter gold output rose to 1.31 million ounces, from 1.15 Moz in 2018, and sales climbed to 1.32 Moz from 1.20 Moz, according to preliminary figures released Oct. 17.

The gold major noted that the results included contributions from its Nevada Gold Mines LLC joint venture with Newmont Goldcorp Corp., which was officially formed in July. The companies agreed to form the joint venture following Barrick's failed hostile bid for Newmont.

Copper production increased year over year to 111 million pounds from 106 million pounds, while sales plummeted to 64 million pounds from 114 million pounds due to a major refurbishment at a third-party smelter that processes some of the concentrate produced from the Lumwana mine in Zambia.

Barrick said it is evaluating alternative smelter opportunities while it waits for the renovation to be finished by the end of the year.

Production fell short of second-quarter output due to operational restrictions on the North Mara mine in Tanzania, which were lifted toward the end of the third quarter. Costs of sales in the third quarter are expected to be 11% to 13% higher than the previous quarter, when Barrick's share totaled US$964 per ounce, amid higher depreciation due to purchase price adjustments at its Nevada Gold Mines joint venture.

The company said full-year gold production is trending toward the upper end of guidance of 5.1 Moz to 5.6 Moz, while costs are expected to be at the lower end of the forecast range of US$870/oz to US$920/oz. The 2019 guidance for copper output of between 375 million pounds and 430 million pounds and for costs of US$2.40/lb to US$2.90/lb remained unchanged.