North Mara operations were impacted by tax and environmental disputes with the government, but operating and export restrictions were lifted in September after Barrick addressed concerns about seepage at the mine's tailings storage facility.
Barrick gained control of North Mara's former operator Acacia Mining during the third quarter after orchestrating a US$1.2 billion buyout of minority shareholders.
Despite third-quarter production coming in slightly below that of the prior period, the world's second-largest gold producer says it remains on track to achieve the top-end of its full-year production guidance of 5.1-5.6 million ounces. It also maintains it is tracking towards the lower-end of its cost guidance, despite expecting higher costs in the current quarter.
Preliminary production came in at 1.31Moz of gold and 111 million pounds of copper, compared with 1.35Moz and 97Mlb gold and copper, respectively, in the June quarter.
Gold sales amounted to 1.32Moz and copper 64Mlb.
Barrick gained from its Nevada Gold Mines joint venture with Newmont Goldcorp, which the company said produced 535,000oz gold. Loulo-Gounkoto performed strongly with output of 153,000oz while 45%-owned Kibali delivered 91,000oz.
In August, Barrick had forecast gold cash costs of US$650-$700/oz for 2019 and all-in sustaining costs of $870-$920/oz. Costs were forecast at between $1.70-$2.00/lb and AISC at $2.40-$2.90/lb for the year.
Barrick is expected to release full Q3 results on November 6.
Barrick's Toronto-quoted equity (TSX:ABX) has gained nearly 28% in the year to date to C$22.50, having ranged between $15.37-$26.69 in the past 12 months. The miner has a market cap of $40 billion.
