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Barrick clips 2018 copper production outlook, sees higher costs

by_susan_taylor

By Susan Taylor TORONTO (Reuters) - Canada's Barrick Gold Corp lowered its full-year copper production forecast on Wednesday while increasing its cost estimates, saying the change reflected operational challenges and planned work at its Lumwana mine in Zambia. Barrick, which looks likely to lose its rank as the world's biggest gold producer this year, maintained its 2018 output estimate of between 4.5 million and 5 million ounces of gold at all-in sustaining costs of $765 to $815 an ounce. Rival Newmont Mining Corp has said it expects to produce between 4.9 and 5.4 million ounces of gold in 2018.