(Reuters) -Canadian miner Barrick Gold Corp said on Tuesday its gold and copper production rose sequentially for the fourth quarter.
The company’s total preliminary output was 1.05 million ounces of gold and 113 million pounds of copper in the three months ended Dec. 31, up from 1.04 million ounces of gold and 112 million pounds of copper in the previous quarter.
Barrick said it expects all-in sustaining costs (AISC) per ounce of gold, an industry metric that reflects total expenses, to rise about 8% to 10% from the previous quarter.
Copper’s AISC is, however, expected to be 2% to 4% lower, largely on the back of lower capitalized waste stripping at Barrick’s Lumwana mine in Zambia.
Barrick is scheduled to release its fourth-quarter results on Feb. 14, 2024.
(Reporting by Seher Dareen in Bengaluru; Editing by Shinjini Ganguli)