The Globe and Mail reports in its Friday edition that Barrick Gold's fourth-quarter gold production is up 4.4 per cent from the previous quarter, partly owing to higher output at its Pueblo Viejo mine in the Dominican Republic. A Reuters dispatch to The Globe says that in Q4, gold prices averaged $1,875 per ounce, 26.4 per cent higher than a year earlier. Total preliminary gold production rose to 1.21 million ounces in the quarter ended Dec. 31 from 1.16 million ounces in the previous quarter. Output at the Pueblo Viejo rose 23.26 per cent to 159,000 ounces. Fourth-quarter output also got a boost from increasing output at Bulyanhulu mine in Tanzania and continuing improvement at Turquoise Ridge in Nevada. Barrick, scheduled to report Q4 results on Feb. 18, said it expects all-in sustaining costs for gold to decrease 3 to 5 per cent compared with third quarter. Copper production also rose 15.5 per cent to 119 million pounds, as plant maintenance at Lumwana in Zambia was completed in the third quarter. The company's preliminary full-year gold production of 4.8 million ounces and 457 million pounds of copper production fell within the range it had earlier forecast. Barrick closed Thursday at 29.91, down four cents.
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