Barrick Mining Corporation maintained its 2026 gold production and gold all-in sustaining cost (AISC) guidance after a year-over-year decline in third-quarter attributable output.
The gold production range remains 2.90 million to 3.25 million ounces, and gold AISC guidance stands at $1,760 to $1,950 per ounce. Barrick reported attributable gold production of 816,000 ounces in the third quarter, down 2% from a year earlier.
Barrick management said on its Nov. 9 earnings call that fourth-quarter production should be modestly above the third-quarter level. The company cited severe weather at Veladero and a wait to access richer ore at North Mara as the main factors behind the gold production decline, and expected to reach that material in the fourth quarter. EconoTimes previously covered the production constraints and cost pressures.
Barrick also cited lower ore grades, royalty charges linked to gold prices, diesel and sustaining investment as cost pressures. During the quarter, it repurchased $761 million of shares and declared a quarterly dividend of $0.175 per share.
