Barrick Gold's third-quarter gold, copper output rise
Oct 12 (Reuters) - Canadian miner Barrick Gold, said on Thursday its gold production rose nearly 3% sequentially for the third quarter, helped by higher production at its Cortez mines in Nevada.
The company's total preliminary gold output was 1.04 million ounces in the three months ended Sept. 30, up from 1.01 million ounces in the previous quarter.
Barrick's preliminary copper production for the quarter was up 4.7% at 112 million pounds from 107 million ounces the previous quarter and was driven primarily by the Lumwana mine in Zambia.
The Toronto-based miner earlier this month said it would invest nearly $2 billion in the Lumwana mine as part of the company's plans to extend the mine's life to 2060.
The company said it expects all-in-sustaining costs (AISC) per ounce of gold, an industry metric that reflects total expenses, to fall about 6-8% from the previous quarter.
Copper's AISC is expected to rise by 2-4% from the previous quarter.
Barrick is scheduled to release its third-quarter results on Nov. 2, while rival and top gold producer Newmont Corp is expected to report on Oct. 26.
(Reporting by Seher Dareen in Bengaluru; Editing by Tasim Zahid)
