Production of the yellow metal came in at 1.15 million ounces, mainly owing to improved throughput and grades at the Barrick Nevada operations.

The Toronto-headquartered major guided for December-quarter production of 1.25Moz, at an all-in sustaining cost (AISC) of US$765-$815/oz.

Higher production at the Lumwana mine, in Zambia boosted copper output during the period to 106 million pounds, up 28% over the prior quarter. Copper AISC were expected to be 10-12% lower compared with the June quarter.

The performance bolstered confidence in its 2018 copper production forecast of 345-410Mlbs, at an AISC of $2.55-$2.85/lb.

Barrick also said its 2018 effective tax rate would be 48%-50%, based on a $1,200/oz gold price for the rest of the year - up from a previous forecast of 44%-46%. The effective tax rate was increased because of lower-than-anticipated sales from operations in lower-tax jurisdictions, such as at Barrick Nevada.

The C$17.52 billion company planned to report quarterly financial results on October 24.