Barrick Gold quarterly output falls due to pandemic-related disruptions (updated)

Aion-Tech Solutions

14/01/2021 12:30

(Adds details on production)
    Jan 14 (Reuters) - Canadian miner Barrick Gold Corp  ABX.TO 
 GOLD.N  said on Thursday preliminary gold production fell
16.19% in the fourth quarter, hurt by lower output from Nevada
Gold mines in the United States and Pueblo Viejo mine in the
Dominican Republic.
    While gold prices touched record highs in 2020, the COVID-19
pandemic-induced disruptions have hurt production at the
company's mines.
    Total preliminary gold production fell to 1.21 million
ounces in the quarter ended Dec. 31 from 1.44 million ounces, a
year earlier. 
    Barrick, which is scheduled to report fourth-quarter results
on Feb. 18, said output from its Nevada gold mine fell 6.7%,
while that from its Pueblo Viejo mine fell 11.2%.
    The world's second largest gold miner by reserves said it
expects all-in sustaining costs, a key industry metric, to
decrease by 3-5% compared to the third quarter.

 (Reporting by Rithika Krishna in Bengaluru; Editing by Shinjini
Ganguli)
 ((Rithika.Krishna@thomsonreuters.com;))