Canada-based mining company Barrick Gold's July-September preliminary copper output decreased on the year but increased by nearly 12pc on the quarter, indicating it remains on track to achieve its full-year production guidance, the company said on 16 October.
Barrick's third-quarter preliminary copper production reached 48,000t, which is down by 5pc from the same period last year but up by 11.6pc on the quarter, driven by higher grades and recoveries at the Lumwana mine in Zambia following increased stripping activities last quarter.
Lumwana produced 30,000t in July-September, which is 20pc higher on the quarter, and output is expected to continue improving through the last quarter as the commissioning of its new mining fleet progresses.
Barrick's 50pc-owned Jabal Sayid mine in Saudi Arabia and the Zaldivar mine in Chile reported consistent year-on-year copper production, having produced 10,000t and 8,000t in the third quarter, respectively.
Overall group copper production was 131,000t over January-September, a 16pc decrease on the year.
Barrick maintains its 2024 copper production guidance of 180,000-210,000t, as the company said it expects a stronger fourth quarter.
Barrick will provide additional information regarding its third-quarter production and sales on 7 November.
